Investors of India’s stocks might have something to cheer about. Two global banking behemoths have strongly optimistic outlooks on Indian markets.
James Sullivan, JP Morgan’s head of equity research for Asia excluding Japan, dubbed India as the “best growth story” among global emerging markets. JP Morgan predicts that the Indian economy will grow at 15%, while markets are expecting a 20% growth for the nation, as told to CNBC.
One of the factors that influenced Sullivan’s outlook is stabilizing oil prices, which is a potentially significant factor since India is a net importer of crude.
Sullivan also seems hopeful that Indian markets will be able to weather the potential volatility due to the nation’s April-May general elections.
Goldman Sachs, too, seems bullish on India. The investment bank raised its rating on Indian stocks to “overweight”, citing solid earnings in Q3 FY19, market expectations of a potentially stable government, and under-performance in January/February. Goldman forecasts that India’s benchmark stock index Nifty 50 would reach 12,500 in 12 months — that’s almost +9% higher than its last close on Monday.
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where INDY declined for three days, in of 240 cases, the price declined further within the following month. The odds of a continued downward trend are .
Category WorldStock