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Near-term Sensex target at 29000; constructive on India: MS

Jonathan Garner, MD, Morgan Stanley Research has a near-term Sensex target of 29000. He believes it could overshoot 29,000 in the medium-term.

After the Sensex breached the 28000 mark on Wednesday, it settled at 27915 at closing. But betting on the euphoria in the Indian stock market, Jonathan Garner, MD, Morgan Stanley Research  has a near-term Sensex target of 29000. He believes it could overshoot 29,000 in the medium-term.

At this point, he has a constructive view on India.

He believes the US dollar strength will continue and that the US jobs data may strengthen in the near term. Garner expects the US GDP growth at 2.8 percent next year. He has a target of 2150 on US S&P 500.

Stay tuned for more…

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