India Inc bullish on capital market

India Inc has reaffirmed its hope in capital markets for the next six months but has painted a gloomy picture for the long-run due to the uncertainty arising out of impending general elections.

In its survey on the state of capital markets, covering 200 entities from across the sector, Federation of Indian Chamber of Commerce and Industry (Ficci) said, ‘‘A vast majority of the respondents found a new awakening in old economy sectors, including bank and steel, even as a sizeable population said the scrip prices of new age IT companies would fall soon.

As many as 94 per cent of the respondents felt that the BSE Sensex would be around 3,000-4,000 points in the next three months, while 70 per cent expect this to continue for the next six months. About 35 per cent of them were not optimistic regarding the better performance of Sensex in future.

The respondents included broking firms, FIIs, corporates, banks and mutual funds.