Even as the BSE Sensex fell over 1,000 points in the last four sessions, US investment bank Morgan Stanley said it has increased its overweight (OW) stance on the Indian equity market, terming it as its most preferred emerging market.
“Relative economic/earnings growth is improving and the macro-stability setup looks sufficient to withstand the higher real rate environment,” Morgan Stanley said in its latest report. “The ‘DREAM’ run of domestic flows continues and multipolar world dynamics are driving both FDI and portfolio flows toward India,” it said.
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