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Wednesday, January 2, 2008

Sensex target for 2008 at 22k-24k

CNBC-TV18 Poll

2008-01-01 09:32:39 Source : CNBC-TV18

CNBC-TV18 has conducted a brokerage poll on markets. They asked major brokerage firms about stocks and markets for 2008.
  
According the poll, 76.4% of leading brokerage firms viewed that the markets are fairly valued while 11.8% each believes that it is overvalued and undervalued, respectively.
 
Regarding the 2008-end Sensex target, not a single firm targeting the Sensex below 18000. 58.8% of total feels that the Sensex will see 22000-24000 in 2008. Sensex above 24000 believes by 17.6% brokerage firms. A 11.8% brokerage firms each said that it may see 18000-20000 and 20000-22000, respectively.
 
Nearly 41.2% constituents recommended that investors should keep 10%-25% cash in hand. 17.6% firms each suggested to keep more than 25% and less than 5% cash, respectively. To keep 5%-10% cash in hand advised by 23.5% of total brokerages.

Amongst index stocks, 41.2% brokerage firms each advised to buy ICICI Bank and Reliance Industries while remaining 29.4% recommended Reliance Energy.

They are bearish on NTPC, Reliance Energy and ACC. 17.6% brokerage firms each advised to sell Reliance Energy and ACC respectively whereas 29.4% recommended selling NTPC.

38.2% of total polled brokerage firms prefer midcap stocks followed by 35.3% believes in non-index large caps, 17.6% in index stocks and the rest 8.9% prefers smallcap stocks.

All polled brokerage firms bullish on banking sector. 66.7% each prefer infrastructure and capital goods sector. Nearly 53.3% firms bullish on media and 53% on telecom sector.

46.7% of brokerage firms favoured IT sector, 43.75% bullish on construction sector. 40% each prefer pharma and power sector. Only 33.3% each of them believes in Ferrous metals, Cement and oil & gas, respectively.

26.7% each has given preference to real estate and sugar while just 20% favoured non-ferrous metals sector.

1) Markets are:

·       Overvalued  11.8%
·       Undervalued  11.8%
·       Fairly Valued  76.4%

2)What is your 2008-end Sensex target?

·       Below 18K Nil
·       18-20K  11.8% 
·       20-22K  11.8% 
·       22-24K  58.8% 
·       Above 24K 17.6%

3)What portion of cash would you recommend?

·       Above 25% - 17.6%
·       10-25% - 41.2%
·       5-10% - 23.5%
·       Less than 5% - 17.6%

4) Which index stocks would you buy at current levels?

·       ICICI Bank 41.2%
·       RIL  41.2%
·       Rel Energy 29.4%

5) 3 index stocks you would sell at current levels.

·       NTPC  29.4%
·       Rel Energy 17.6%
·       ACC  17.6%

6) Which stocks will you prefer under current circumstances?

·       Index stocks   17.6% 
·       Non-index Large Caps  35.3% 
·       Midcap stocks   38.2%
·       Small cap stocks  8.9%

7) Bullish On

·       Banking   100%
·       Infrastructure  66.7%
·       Capital Goods  66.7%
·       Media   53.3%
·       Telecom  53%
·       IT    46.7%
·       Construction  43.75%
·       Pharma   40%
·       Power   40%
·       Ferrous Metals  33.3%
·       Cement   33.3%
·       Oil & Gas   33.3%
·       Real Estate  26.7%
·       Sugar   26.7%
·       Non-ferrous metals  20%

Source: moneycontrol.com