Experts bullish on 2010 stock market; see Sensex at 21k | business | Hindustan Times
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Experts bullish on 2010 stock market; see Sensex at 21k

business Updated: Jan 03, 2010 13:22 IST
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A significant pick up expected in the corporate earnings and the strong fundamentals of economy undeterred by financial meltdown, is likely to bring cheers to share markets in 2010, experts said.

"Corporate earning will see a 25 per cent growth. Though there may be short-term corrections, the market will go up by another 20 per cent. I do see sensex at 21k this year," Angel Broking's Managing Director Dinesh Thacker told PTI.

Banking sector, on the back of an expected 8 per cent GDP growth is likely to be amongst the top performing sectors in the new year, he said.

"Indian banks, both in public and public sector, are well capitalised. We expect the credit growth to pick up further, which is a good news to banking stocks," Thacker said.

Also, infrastructure sector, where huge investments are expected, could also play a major role in the share market in 2009, Thackar said.

"Undoubtedly, a major sector that can perform well in short term and long term is infrastructure. Government is spending a lot of money on infrastructure and for the next 5-10 years it would continue bullish," he said.