Sensex can hit 100,000 mark in five years, believes Chris Wood

A similar view was shared by Raamdeo Agrawal, co-founder and joint managing director, Motilal Oswal Financial Services, who suggested that Indian equity markets were on the cusp of a major bull-run

Propelled by high economic growth and strong corporate earnings despite high valuation of the Indian benchmarks (Nifty50 trades at 20.5x one-year forward earnings), the S&P BSE Sensex can hit the 100,000 mark in the next five years, believes Christopher Wood, global head of equity strategy at Jefferies.

The accelerating growth story, Wood believes, is reflected in rising earnings forecasts amid strong economic growth. India, according to him, looks set to record perhaps the best earnings growth in Asia this year, with only Indonesia and the Philippines higher in terms of consensus forecasts.

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