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Sensex seen 32,500 by Dec 2015; like banks: Morgan Stanley

Indian equities are benefiting from the start of a new growth cycle, a benign global environment resulting in a positive shift in terms of trade and reforms, says Morgan Stanley

The News International Team

Brokerage house Morgan Stanley says it expects the Sensex to hit 32,500 by end of December 2015.

“Indian equities are benefiting from the start of a new growth cycle, a benign global environment resulting in a positive shift in terms of trade and reforms, which can lift India’s potential growth rate,” the brokerage said in a note to clients.

“From a portfolio perspective we back cyclical stocks and sectors that could benefit from policy changes,” the note said, while sounding a cautious note on high beta stocks.

Morgan Stanley is overweight on oil & gas, auto, banks and IT sectors. It is underweight on FMCG, healthcare, capital goods, cement and power utilities.

Also read: Waiting for the elusive correction as market climbs to new highs

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