The 2008 Sensex fair value is at 16,000, says a market expert from DSP Merrill Lynch, on CNBC-TV18. The market will consolidate before the final run into the bubble phase, he says. The brokerage's picks include BHEL, JP Associates, ICICI Bank and Bharti, he says. The brokerage has also given a sell rating to Tata Motors, RPL, Hindalco, MTNL and Pantaloon.

UBS has upgraded SBI to 'buy' and has given a target price of Rs 2,650, reports NDTV Profit. The stock is currently trading at Rs 2,285, up 1.5% on the BSE.