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Citi Lowers Sensex Target To 18,900

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September 16: The macroeconomic setup today is similar to that in 1998-2003, says Aditya Narain, MD & India Equity Strategist at Citi. “Growth burst, peaked and then took years to recover; it was a period of slower growth and earnings,” he says, and warns that we will also likely see an expected period of slow growth going forward.