Citigroup raises BSE Sensex target to 33,000

Citigroup has raised BSE Sensex Dec 2015 target to 33,000 from 31,000. It expects 15 percent upside from Friday's close on the Sensex.

CitiGroup has also raised Nifty target to 9,850 from 9,240.

It says 2015 should be front-loaded with falling interest rates, back-loaded with actual economic recovery amid steady reforms.

Citigroup says falling rates in a rising economy/earnings could fire the market more.

It exepcts policy rates to fall 75 bps in 2015.

Citigroup is overweight on banks, energy, cement, pharmaceutical shares.

It has listed Adani Port and Special Economic Zone, Aurobindo Pharma among top large-cap picks.

Citigroup likes Ashok Leyland and DB Corp among midcaps.

(Reuters)