The market’s breathtaking rise continues. For the first time, serious divergence of opinion is beginning to emerge amongst market players about future returns. Some top broking firms have come up with a fairly bearish outlook.
A top foreign broker pegs the sensex fair value for end-’06 at 8500 levels — about 30% down from current levels. A leading Indian broking house has offered 9500 levels as a reasonable year-end target — about 20% down from current levels.
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