BofA-ML sees consensus bullishness as biggest risk to Indian shares

Bank of America-Merrill Lynch (BofA-ML) has said it met nearly 60 global investors over the past two weeks and each was overweight on India.

That consensus bullishness may be the biggest risk to shares, the banking major said, but stuck to its year-end target of 27,000 for the Sensex.

BofA-ML added that in the near-term, India could see a slight pullback on global concerns and a possible monsoon failure.

It said investors interested in Indian mid-caps still see low positioning for a domestic economic upturn.

(Reuters)