We have a March 2012 target of around 22500 for the Sensex: Suresh Mahadevan, UBS Securities

Suresh Mahadevan, MD, Head-India Equities, UBS Securities in an interview with ET Now talks about Sensex.

We are at about 18000 and about 5500 on the Nifty, this is Feb 2011. By the time we wrap the year, what kind of numbers do you think we could be staring at?

We have a March 2012 target of around 22500 for the Sensex. So clearly we are positive in the medium term. Only thing I would say India as a market will continue to grow whether it is economic growth, corporate earnings. So clearly it makes sense to buy the declines and I am not even saying you buy the market.

You just buy selective high quality names to start with. If you have a slightly better risk appetite, this is an excellent time to look at midcap names and the midcap infra space is very interesting. You can look at some of the high quality midcaps like the Murugappa Group for example of some of the coal plays like Jai Balaji etc.

So this is a time for people to buy selectively and I am reasonably confident as we get to one year from now, things will start looking lot better.