ETMarkets Survey: Sensex seen above 65,000 by Dec-end on sustained capital flows

Indian equities have performed well in the first half of 2023, reaching all-time highs, and money managers are optimistic about the market’s prospects for the rest of the year. According to a survey, 86% of brokerages expect the benchmark Nifty 50 to be above 19,000 by December, and 79% believe the Sensex will surpass 65,000. Foreign and domestic fund flows are also expected to sustain, driven by strong corporate earnings and attractive growth potential. However, volatility may persist due to global interest rate hikes and geopolitical risks. The automobile, FMCG, and realty sectors are expected to continue gaining momentum in the second half of the year, while banking stocks are expected to rebound. Midcap and smallcap stocks are also expected to perform well, outperforming benchmark indices.