The BSE Sensex is poised to touch the 19000-mark in 2010 fueled by global equities' rising growth premium, favourable demographics, diminished policy risks and inexpensive valuations of Indian stocks.
Prabhudas Lilladher (PL), a leading equity research and brokerage firm for FIIs, said in its 'India Equity Strategy' report that Indian equities were on a long-term bull phase.
It said the Indian equity market was amongst the few markets around the world, which was poised to advance on a long-term bull phase over the next several years.
Besides the Sensex, the PL research report said the NSE Nifty would touch 5600 next year.
The report said one of the most important factors behind the bullish outlook was the huge proportion of Indian youth which had placed the country in a favourable demographic position vis-a-vis other countries.
The real GDP growth would be in the vicinity of six to eight per cent over the next five years, with the prospective nominal GDP growth around 10 per cent, according to PL research estimates.