Christopher Wood, global head of equities at Jefferies, believes that the S&P BSE Sensex could soon touch the magic figure of 1,00,000. This means there is an upside of about 62 per cent from the current level. According to media reports, Wood believes that the performance of the Indian stock market is the best among the markets around the world.
According to media reports, Christopher Wood said, ‘It will be only a matter of time before the Sensex reaches the level of 1,00,000. India is still like all long term bulls. The Indian stock market will continue to move towards the magic figure.
Last year in February 2022, Chris Wood had said in a note that India’s benchmark BSE Sensex would reach the magic figure of 1,00,000 in five years i.e. by the end of 2026.
On May 26, after witnessing sharp volatility in the previous trading session, Indian stocks opened on better global cues, with benchmarks reversing losses in the last hour of the May series close. Sensex climbed 178.34 points to 62,050.96 in early trade; The Nifty rose 51.1 points to 18,372.25.
On May 24, brokerage group Jefferies said in a note that the Indian stock market is likely to outperform its Asian and emerging market peers in the long term as higher valuations ease and investors place bets on the economy’s growth prospects .
Wood wrote in his ‘Greed & Fear’ report that the price-to-earnings premium of the benchmark Nifty 50 index to China’s Hang Seng index declined from 208 per cent to 115 per cent at the end of October, and to the 10-year average of 118 per cent. conforms to.