Nomura stays positive on Indian markets

Maintains its August-end 2015 Sensex target at 30,310

Nomura has maintained a positive stance on Indian markets and financial stocks, saying that inflation across sectors is close to  post-global financial crisis lows.

It said with disinflation trends running deep, the market will further recalibrate its rate expectations lower.

Nomura said that the BSE Sensex is trading at 7%  premium to its five-year average, which is not expensive.

The 30-shares index is trading at 14.1 times of one-year forward earnings, Reuters data shows.

Nomura maintained its August-end 2015 Sensex target at 30,310.