Looking At Pull Back In Markets: Manishi Raychaudhuri
  • Elizabeth George
  • Sep 25 2013

September 25: We recently downgraded our Sensex target to 17,000 by the end of the year and are unlikely to revise this for the time being, says Manishi Raychaudhuri, MD & HoR at BNP Paribas Securities. “We expect a 10-12% downwards correction in markets primarily due to further earnings downgrades to domestic cyclicals and also to certain safe sectors,” he says, adding that the earnings estimate will be dragged down to single digits.