Morgan Stanley sees Sensex at 45,000; Nifty at 13,500 by June 2020

On Thursday, the Narendra Modi - led National Democratic Alliance (NDA) was seen sweeping to power for the second consecutive term

There is still some more headroom for the markets despite the poll-outcome driven rally that took the S&P BSE Sensex and the Nifty 50 index above the 40,000 and 12,000 levels, respectively in trade on Thursday, the day votes were counted for 2019 Lok Sabha elections.

"India seems to be voting in a majority government for another term. This likely continuity in administration is source of comfort for stocks due to an accompanying policy predictability. We expect some shifts in the policy regime. Sensex target is at 45,000 for Jun 2020," wrote Ridham Desai, head of India research and India