India's bellwether market index, the Sensex, will remain undeterred by any downgrade in the country's GDP forecast and may even scale 18,000 level by the end of this fiscal, sustaining its northward trajectory, global research firm Macquarie says.
Earlier Rajeev Malik an analyst with Macquarie Group had downgraded India's economic growth forecast to 6.5 per cent for the fiscal ended March 2010, from 7 per cent on account of weak monsoon.
He said: "This downgrade is more a hiccup than the beginning of a GDP downgrade cycle," and added that 'our view on strategy for the Indian market remains broadly unchanged'.
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