"We have seen a weak start to the year with volatility globally & locally seeing stocks underperform. However, we think you could see another 10 percent upside in FY19 from June/July period onward as earnings start to grow. Nifty December 2018 target 11,700 & March 2019 target 12,000," Sanjiv Bhasin, Executive Vice President, IIFL said.
Frontline indices rallied further, with the Sensex rising 319.77 points or 0.97 percent to 33,316.53, backed by banking & financials, Reliance Industries, ITC and L&T.
The Nifty gained 92.60 points or 0.91 percent at 10,217 while the Nifty Bank rose 1 percent and PSU Bank index surged 2 percent.
The Nifty Midcap also traded in line with frontliners, with the Nifty Midcap index rising 1 percent on strong market breadth. About four shares advanced for every share falling on the BSE.
Missed call
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