We have a 40,000 yr-end Sensex target: BNP Paribas' Abhiram Eleswarapu

2019 appears a story of two halves for Indian equities; a more difficult first half might precede a stronger second half, says Eleswarapu

Your outlook for the market for this year? 

The past year was challenging, with the Nifty marginally down and held up only by a handful of stocks. The BSE mid-cap and small-cap indices are down 20-30 per cent over the past year. Macro factors such as trade wars, oil prices and currency have fluctuated significantly, making it more of a trading market than one for investing.

To us, 2019 appears a story of two halves for Indian equities; a more difficult first half might precede a stronger second half. India is rated ‘neutral’ in our Asia ex-Japan model portfolio. We have a