First Capital Research said that they are targeting All Share Price Index (ASPI) to hit 6,500-mark towards mid next year.

“In the equity front we are very bullish. We are targeting the ASPI to hit 6,500 towards mid next year, and going on to around 7,000 mark”, Dimantha Mathew, Head of Research - First Capital said during a forum on Wednesday (02) where the First Capital Research Mid-year Economic Outlook 2019 was presented.

Speaking further, Mathew noted that they expect the bond yields to stay low until the 1Q 2020 and possible rise in consumer demand to boost earnings.

“We expect the bond yields to stay low until the first quarter of next year. Exchange rates of course we have update our outlook. We are looking at 185 – 190 levels towards the end of the year. Earlier we were targeting for mid of next year.”