CLSA has cautioned investors to brace for volatility in the market and has set a target of 11,000 on the Nifty for 2019-end.
The research firm believes that the market risk is on the downside in near term, and there could be a lag in capex and housing recovery as well.
On the plus side, it expects double-digit earnings growth this year. Having said that, analysts at CLSA wrote in their report, that the factor of improved earnings is already priced in by the market.
Going forward, national elections will take centrestage and increase focus on rural economy as well as jobs creation.
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