Foreign brokerages expect bull run to continue in 2018

Nomura, HSBC and Goldman Sachs see Indian and Asian equities rally over 15% next year

Indian equities have rallied more than 25 per cent in 2017, but most equity strategists are not yet calling an end to the bull market. Foreign brokerages forecast the benchmark Nifty to deliver returns of more than 15 per cent by December 2018. 

Equity strategists are basing their expectation on strong corporate earnings recovery, supportive global economic growth, and gradual improvement in business sentiment. 

“We are positive on Indian equities for 2018 and forecast a 17 per cent Nifty return for the year. We foresee a strong multi-year corporate earnings recovery ahead. We also expect the policy initiatives to bear fruit, supporting