UBS Says Investors Won’t Make Money On Indian Stocks This Year

(Bloomberg) -- The euphoria that’s seen Indian equities building on record highs this year will fizzle out, UBS Securities India Pvt. says.

The NSE Nifty 50 Index will close at around 10,500 points on Dec. 31, analysts led by Gautam Chhaochharia wrote in a note Monday, suggesting investors won’t make any profits from the gauge of the nation’s biggest companies.

“A goldilocks scenario of a sharp earnings recovery, but with continued robust macro stability (benign inflation and currency rates) appears priced in,” Chhaochharia said in the report.