Nomura Holdings Inc, Japan's biggest investment banking and brokerage group, has forecast that the BSE's benchmark index, the Sensex, will soar 17 per cent from its current levels in a year from now.
It said the index will touch 30,310 points by end of August 2015 as growth momentum intensifies in the medium-term on the back of ongoing efforts of the new government to revive growth. It also said that the markets may get re-rated going forward on account of falling inflation and rising growth momentum.
The brokerage said the market's earnings multiple is still not expensive as earnings multiple are trading around 15 times compared with historical averages of 14.9 times to five-year average multiple and 14.1 times to three year average
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