Benchmark returns of Indian markets may remain muted in 2019: BofA-ML

Indian benchmarks will find it difficult to stay resilient in the face of global weakness

The benchmark returns of Indian markets are likely to remain muted in 2019. The foreign brokerage Bank of America Merrill Lynch (BofA-ML) has pegged the year-end target for Nifty at 11,300, which is just 4.6 per cent higher than Nifty’s Tuesday closing.

The brokerage is of the view that markets will find it difficult to stay resilient in the face of global weakness.

Globally, central banks are cutting down on liquidity infusions and according to the brokerage, this is likely to adversely impact emerging markets (EMs) including India.

The note added that Indian markets have closely tracked those of EMs for a long