Budget 2014 impact: Morgan Stanley raises Sensex target to 28,800

Global brokerage Morgan Stanley has raised its June 2015 target for the BSE Sensex by 9 per cent to 28,800, saying the Union Budget would help revive investor sentiment and boost earnings.

Finance Minister Arun Jaitley had on Thursday presented the Narendra Modi government's first Budget for the 2014-15 financial year.

The brokerage's new target would mark a 13.5 per cent gain from the Bombay Stock Exchange's close on Thursday.

BSE earnings expectations from Morgan Stanley are as below -

>> FY15 - 13.5 per cent
>> FY16 - 22.7 per cent
>> FY17 - 23.4 per cent

(Reuters)