India stocks will trade only modestly higher at year-end, according to a Reuters poll of equity analysts who said a correction was likely before then, citing tightening global financial conditions as a risk.
touched an all-time high of 67,619.2 on July 20, up around 18% from the year's low of 57,084.9 set only four months earlier.
The median forecast in the Aug. 9-22 poll of 29 analysts showed the Sensex gaining 1.2% from Monday's close of 65,216 to 66,000 by year-end, slightly higher than predicted three months ago. "The dollar is starting to gain and U.S. yields are rising. U.S. financial conditions are turning out as some kind of a headwind for markets right now so we expect the market can continue to be sideways for some more time before moving higher again."
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