Sensex may climb to 42,000 by end of 2019, says Morgan Stanley

Morgan Stanley said market performance will broaden next year

Influential brokerage Morgan Stanley expects Sensex to climb to 42,000 by the end of next year. The target implies an 18 per cent upside for the market from current levels in local currency terms. The brokerage expects the rupee to gain next year and therefore the market returns in dollar terms will be around 25 per cent, it said the index on Wednesday was trading at 35,690.

“After a volatile 2018, on balance equities could be poised for better returns in 2019 with