Sensex to hit 61,000 by year-end: Morgan Stanley raises bull, bear targets on Budget buoyancy

With Nirmala Sitharaman’s third Union Budget speech turning out to be the most positive for equity markets so far, global brokerage and research firm Morgan Stanley has raised its year-end target for Sensex to 61,000 in a bull-case. “The budget has favoured a wider fiscal deficit with a view to spur growth through higher capex,” analysts at Morgan Stanley said in a note. On February 1, Finance Minister Nirmala Sitharaman presented a growth-oriented Budget, with higher fiscal deficit limits and privatisation plans.

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