Stock market valuation turns favourable after 5 years, re-rating ahead: Morgan Stanley

Indian equities are poised for a strong performance over the next 12-24 months. Morgan Stanley predicts a target of 95,000 for the Sensex. This outlook is driven by cheaper valuations, improving earnings, and supportive government policies. Foreign investor interest is expected to return, boosting market sentiment. The brokerage recommends focusing on domestic cyclical sectors for potential gains.