Sensex will hit 39,000 by year end: The new bull estimate by Morgan Stanley

It's a best case estimate, almost 30% higher than current levels; in worst case, index will shed 20%

Global financial services entity Morgan Stanley has raised its 'Bull case' year-end target for the BSE exchange's benchmark Sensex to 39,000, from the earlier 33,000.

This has come in the wake of the Indian markets scaling new heights. The brokerage says revival in corporate earnings and appetite for equities among domestic investors are expected to be key drivers for the rally. The Sensex closed at 30,188 on Friday.

Which means in its best/Bull case scenario, the probability for which is pegged at 30 per cent, Morgan Stanley sees a 29 per
cent upside to the market by end-December or over the next