Investors and investment advisors expect the Sensex to reach 18,000 to 19,000 in June.
A survey among various market players by JP Morgan Asset Management and ValueNotes has found out that this was indeed postponement of expectation from March to June, expressed in a survey in September 2009.
According to Mr Christopher Spelman, Whole-time Director and Chief Executive Officer of JP Morgan Asset Management, the results of the latest investment confidence survey suggested “a sense of measured optimism” from the financial community.
The results indicate that a range of macro economic factors affected corporates and advisors, while retail investors continued to be optimistic. “While confidence across all indicators remained positive, the confidence levels were lower than those seen in September 2009,” he added.
Mr Arun Jethmalani, Managing Director, ValueNotes, said at the release of the survey: “The investor Confidence Index (ICI) decreased 5.2 points to 141.2 in February 2010, driven by concerns that the fallout of the financial crisis is still incomplete.”
Among all cities, the survey found, investor confidence in Chennai continued to be the highest at 166 with a two-point increase from the previous survey-based index. Hyderabad retail confidence, according to the survey, declined 29 points to 101 from September.
The survey has stated that 60 per cent of investors expect their investment income to rise and they expect to make additional investments in the next six months.
Corporate confidence declined 11.8 points and advisor confidence fell 5.8 points.
The current corporate confidence of 130.7 has hit the lowest point since the ICI launch in July 2009.
Mr Jethmalani added that retail investor confidence on the global and domestic economic situation continues to improve, supported by a bullish outlook for the BSE Sensex.
No comments:
Post a Comment