 "Next year will be positive for equities, says Credit Suisse")
Credit Suisse expects the Indian market to deliver positive returns in 2018; but, it has abstained from setting any targets for the Sensex or Nifty. The brokerage is forecasting low-teen growth in earnings for the next fiscal year (FY19), lower than the consensus estimate of 22 per cent. The markets, therefore, could deliver low-teen returns too, if valuations have to stay at current levels, said Neelkanth Mishra, managing director and India equity strategist at Credit Suisse.
Mishra said while the price-to-earnings (P/E) multiple is higher compared to historical averages, it is not expensive compared to global equities. The June quarter
