Deutsche Bank sees Sensex at record high of 22,000 by Dec end

Deutsche Bank raised its December 2013 target for India's benchmark BSE index to a record high at 22,000 points from 21,000, saying investor pessimism earlier this year was receding amid positive developments such as a good monsoon.

Deutsche Bank raised its December 2013 target for India's benchmark BSE index to a record high at 22,000 points from 21,000, saying investor pessimism earlier this year was receding amid positive developments such as a good monsoon.

Among other positive factors, Deutsche mentioned a bottoming out in the economy, the likely withdrawal of liquidity tightening measures by the Reserve Bank, a synchronized global growth recovery and a Federal Reserve that has delayed tapering of its monetary stimulus.

Deutsche Bank also named banks as its top "overweight" in its model portfolio, citing receding concerns over tight liquidity and higher short-end interest rates.

Meanwhile, it cut IT services to "neutral."