Indian stocks outperformed other developing markets and will likely continue to do so, according to Morgan Stanley.
Their strong performance so far has been driven by an improving policy environment, as well as corporate resilience to the coronavirus pandemic, the investment bank said.A guard walks past the National Stock Exchange building in Mumbai, India, on February 9, 2018.SINGAPORE — Indian stocks have been outperforming other emerging markets for nearly six months and could continue to do so if supportive measures are in place, according to Morgan Stanley.
The outperformance began in April but the market's short-term performance remains hinged to global factors, the U.S. investment bank said in a Oct. 9 report. "We have been arguing that for this outperformance to be sustained, India needs to continue to deliver policy that lifts India's potential growth in the eyes of market participants," Ridham Desai, equity strategist, and Sheela Rathi, equity analyst, said in the report., which focuses on both large and mid-cap segments, is up 39.36% between mid-April till Oct. 14 versus a 26.7% increase in the MSCI Emerging Markets Index, according to data from Refinitiv Eikon.
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What stocks are Indian based?