UBS sets 2008 end Sensex target at 19000 points

Leading Global Welath Manager UBS has revised the target set for the sensex from 15000 to 16,300 by the end of this fiscal year.UBS remains bullish on Indian markets and they have set the 2008 year end target for the BSE sensex at 19,000 points.  

UBS has said that domestic drivers override concerns over global credit and mortgage markets. They added that the strong Capex cycle and secular consumption growth will remain intact and that every correction should be treated as buying opportunities.

USB has put overweight on engineering, telecom, cement, auto and IT sectors. Their top picks include RIL, Bharti, L&T, Grasim and Tata Steel.