The S&P BSE Sensex can climb the 'wall of worry' and hit the 100,000 mark soon, believes Christopher Wood, global head of equity strategy at Jefferies. This implies an upside of nearly 62 per cent from the current levels. Wood believes that India remains the best structural story across world markets.
“With the structural story still intact, GREED & fear continues to take the view that it will only be a matter of time before the Sensex reaches the 100,000 level, a target of fascination to India’s delightfully noisy financial media. This target, on a five-year view, now assumes trend 15 per cent earnings per share (EPS) growth and that a five-year average one-year forward price-earnings (PE) multiple of 19.8x is maintained,” Wood writes in his weekly note to investors, GREED & fear.
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