India’s Sensex May Gain 8.3% on ‘Strong’ Recovery, LIC Says
By V Ramakrishnan and Pooja Thakur
Feb. 11 (Bloomberg) -- Life Insurance Corp. of India, the nation’s largest money manager, said the benchmark stock index may gain as much as 8.3 percent in a month as an economic recovery attracts investors.
India’s Sensitive Index, which has fallen 10 percent from its high on Jan. 6, may rebound to 17,500 by March 31, N. Mohan Raj, executive director of investments at Life Insurance said in an interview in Mumbai today.
“The underlying parameters of the economy are still very strong,” Mohan Raj, who manages the equivalent of $215 billion said. “We have one of the fastest growing economies in the world and our vast domestic market means we are not too dependent on exports”.
The benchmark 10-year bond yield may rise as high as 8.40 percent, its highest level since October 2008, he said.
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