Consensus bullishness biggest risk to Indian shares - BofA

Source : REUTERS
Last Updated: Tue, Jul 22, 2014 14:20 hrs
A bronze bull sculpture is seen as an employee walks out of the Bombay Stock Exchange building in Mumbai

Reuters Market Eye - Bank of America-Merrill Lynch says it met nearly 60 global investors over the past two weeks, and each was overweight on India.

That consensus bullishness may be the biggest risk to shares, BofA says, but sticks to its year-end target of 27,000 for the Sensex.

BofA adds in the near-term India could see a slight pullback on global concerns and a possible monsoon failure.

BofA notes investors interested in Indian midcaps still see low positioning for a domestic economic upturn.

(Reporting by Abhishek Vishnoi)

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