Business

Citi Sees Bumpy Ride for India Stocks as It Lowers Sensex Target

Fatigue seems to have set into Indian equities after last yearโ€™s rally took the $2.3 trillion market into uncharted territory.

The S&P BSE Sensex may climb 5 percent to 35,700 in 2018, Surendra Goyal and Vijit Jain, analysts at Citigroup Global Markets India Pvt., wrote in a note dated April 8. The year-end target has been cut marginally to reflect higher volatility, earnings downgrades and a drop in local fund flows. The gauge jumped 28 percent in 2017 to 34,056.83.