Indian stock euphoria to fizzle out, investor won't make much money: UBS

Even as most investors expect stocks to rally this year on the back of stronger earnings growth, UBS says results will disappoint the consensus estimate of 22% growth for FY19

The euphoria that’s seen Indian equities building on record highs this year will fizzle out, UBS Securities India says.
 
The NSE Nifty 50 Index will close at around 10,500 points on Dec 31, analysts led by Gautam Chhaochharia wrote in a note on Monday, suggesting investors won’t make any profits from the gauge of the nation’s biggest companies.
 
“A goldilocks scenario of a sharp earnings recovery, but with continued robust macro stability (benign inflation and currency rates) appears priced in,” Chhaochharia said in the report. The gauge rose about 0.1 per cent to 10,629.16 at 2:14 pm in