Jonathan Garner said he has a target of 42,000 for the Sensex.
Moneycontrol News
Emerging markets will outperform developed markets and global markets will see a major trend reversal next year, according to Jonathan Garner, market strategist at Morgan Stanley.
GDP growth differential between emerging and US markets should narrow now, Garner told CNBC-TV18.
Garner said that he and one of his colleagues have a target of 42,000 for the Sensex.
India, Brazil, Indonesia, China are the financial services company's key emerging markets overweights.
Morgan Stanley recently double upgraded emerging markets to Overweight.
Morgan Stanley sees an upside of 8 percent, MSCI Emerging Market Index in 2019, but only on a 4 percent upside for S&P.
Garner said the company expects the price of Brent crude oil to average around $60/bbl next year.
"The market is oversupplied, that is clear from the inventory situation. We take the view that oil price is going to be at less of a headwind going forward," Garner said.
