Sensex and Nifty touched record highs of 36,443.98 and 11,171.55 points on 29 January. Photo: Hemant Mishra/MintMumbai: Political uncertainty before a spate of crucial state assembly polls later this year that may set the tone for next year’s national elections and tepid earnings growth have prompted foreign brokerages to cut their year-end targets for benchmark indices. Citigroup and CLSA have cut their targets for Sensex and Nifty for 2018, citing earnings downgrades and macro concerns, respectively. On Sunday, Citigroup cut its Sensex target for December to 35,700 points from 36,900 earlier. UBS Securities India, however, retained its end 2018 target of 10,500 points, saying it is not reviewing it currently.

Source: Mint April 10, 2018 04:52 UTC