After a surge of about 24% in benchmarks so far this year, leading brokerages mostly expect a bright 2018 for Indian equities, says ET.Some see politics playing a larger role as the 2019 general elections draw near. Underweight on IT, consumer staples, utilities and cement.India at cusp of a business upcycle, to see strong revival in earnings growth. Increase underweight on IT and telecom.Positive returns for equity indices from current level only possible if current elevated P/E multiples sustain. The 2019 general elections may influence policy.index targetOverweight on energy, metals, PSBs & IT. Underweight on NBFCs, cement, discretionary and staples.Market focus could be higher on state polls as 2019 general elections draw near.

Source: Economic Times December 07, 2017 19:34 UTC