Citi ups sensex target to 33,800

Government’s measures on bank recapitalisation, infrastructure, and crop prices, coupled with domestic flows, would support India stocks, even as downgrades in earnings continue, Surendra Goyal, equity strategist in Citibank India, said in a note. It has raised the FY18 Sensex target to 33,800 from 32,200. Citibank now expects 13 per cent earnings growth in FY18, down from the earlier projection of 18 per cent .