HSBC Cuts BSE’s 2017 Target

HSBC has cut BSE index target to 30,500 by 2017-end from its previous forecast of 32,400. The target cut reflects fall in Indian equities since announcement of banknote ban and Trump’s win on November 8. The BSE is down 4.3 per cent since November 8. It said forex reserves are “substantial,” and rupee is less reliant on trade with the United States.

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