Sensex barely managed to climb above 35,000 last week. American investment bank Bank of America-Merrill Lynch (BofA-ML) says the index could well come under selling pressure and head towards 32,000 levels by December, a decline of over eight percent from its Thursday’s close.
“The target for the benchmark index does look scary especially when we are sitting comfortably above 35,000, but the deteriorating macro story could flip the market in the opposite direction.”
After a bout of selling induced by Budget 2018-19 proposals, the market rallied almost 5 percent in April and closed at 35,103 on Thursday.
Read more--Stocks update
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