While corporate profit growth has recovered in past two quarters, Citigroup says results for the current fiscal will disappoint the consensus estimate of 20% to 24% for NSE Nifty 50 Index companies. Photo: MintMumbai: Fatigue seems to have set into Indian equities after last year’s rally took the $2.3 trillion market into uncharted territory. The S&P BSE Sensex may climb 5% to 35,700 in 2018, Surendra Goyal and Vijit Jain, analysts at Citigroup Global Markets India Pvt. The year-end target has been cut marginally to reflect higher volatility, earnings downgrades and a drop in local fund flows. While corporate profit growth has recovered in past two quarters, Citigroup says results for the current fiscal will disappoint the consensus estimate of 20% to 24% for NSE Nifty 50 Index companies.

Source: Mint April 09, 2018 07:30 UTC