Sensex target for 22k-24k in 2008: CNBC-TV18 Poll

	CNBC-TV18 has conducted a brokerage poll on markets. They asked major brokerage firms about stocks and markets for 2008. 76.4% of leading brokerage firms viewed that the markets are fairly valued while 11.8% each believes that it is overvalued and undervalued, respectively.
	CNBC-TV18 has conducted a brokerage poll on markets. They asked major brokerage firms about stocks and markets for 2008. According the poll, 76.4% of leading brokerage firms viewed that the markets are fairly valued while 11.8% each believes that it is overvalued and undervalued, respectively. Regarding the 2008-end Sensex target, not a single firm targeting the Sensex below 18000. 58.8% of total feels that the Sensex will see 22000-24000 in 2008. Sensex above 24000 believes by 17.6% brokerage firms. A 11.8% brokerage firms each said that it may see 18000-20000 and 20000-22000, respectively. Nearly 41.2% constituents recommended that investors should keep 10%-25% cash in hand. 17.6% firms each suggested to keep more than 25% and less than 5% cash, respectively. To keep 5%-10% cash in hand advised by 23.5% of total brokerages. Amongst index stocks, 41.2% brokerage firms each advised to buy ICICI Bank and Reliance Industries while remaining 29.4% recommended Reliance Energy. They are bearish on NTPC, Reliance Energy and ACC. 17.6% brokerage firms each advised to sell Reliance Energy and ACC respectively whereas 29.4% recommended selling NTPC. 38.2% of total polled brokerage firms prefer midcap stocks followed by 35.3% believes in non-index large caps, 17.6% in index stocks and the rest 8.9% prefers smallcap stocks. All polled brokerage firms bullish on banking sector. 66.7% each prefer infrastructure and capital goods sector. Nearly 53.3% firms bullish on media and 53% on telecom sector. 46.7% of brokerage firms favoured IT sector, 43.75% bullish on construction sector. 40% each prefer pharma and power sector. Only 33.3% each of them believes in Ferrous metals, Cement and oil & gas, respectively. 26.7% each has given preference to real estate and sugar while just 20% favoured non-ferrous metals sector. 1) Markets are: Overvalued 11.8% Undervalued 11.8% Fairly Valued 76.4% 2)What is your 2008-end Sensex target? Below 18K Nil 18-20K 11.8% 20-22K 11.8% 22-24K 58.8% Above 24K 17.6% 3)What portion of cash would you recommend? Above 25% - 17.6% 10-25% - 41.2% 5-10% - 23.5% Less than 5% - 17.6% 4) Which index stocks would you buy at current levels? ICICI Bank 41.2% RIL 41.2% Rel Energy 29.4% 5) 3 index stocks you would sell at current levels. NTPC 29.4% Rel Energy 17.6% ACC 17.6% 6) Which stocks will you prefer under current circumstances? Index stocks 17.6% Non-index Large Caps 35.3% Midcap stocks 38.2% Small cap stocks 8.9% 7) Bullish On Banking 100% Infrastructure 66.7% Capital Goods 66.7% Media 53.3% Telecom 53% IT 46.7% Construction 43.75% Pharma 40% Power 40% Ferrous Metals 33.3% Cement 33.3% Oil & Gas 33.3% Real Estate 26.7% Sugar 26.7% Non-ferrous metals 20%