Foreign brokerages bet big on 2020, hope for turnaround in fundamentals

Despite the economic slowdown, BNP Paribas, Morgan Stanley, Nomura and Credit Suisse are optimistic

Foreign brokerages are betting big on 2020, hopeful of a turnaround in fundamentals. This is set to give a further fillip to market indices, which are already at all-time highs.

Separate reports issued by a number of foreign brokerages, including BNP Paribas, Morgan Stanley, Nomura and Credit Suisse have turned bullish for this year.

BNP Paribas has set a target of 44,500 for the Sensex, which had breached the 42,000-mark for the first time during intra-day trade on Thursday. 

The France-headquartered investment bank, in a note, said that consensus earnings growth for benchmark Indian companies is currently at 11 per cent for the