Low market volatility and polls suggesting the government retains power justify the conservative stance.
Goldman’s view follows overseas investors’ US$2.3 billion net selling of Indian stocks in September after six months of inflows.
“The sharp rally since end-March, expensive valuations and global macro risks warrant a tactically conservative stance over the next three to six months,” analysts including Sunil Koul and Amorita Goel wrote in a note. The polls are likely to have a bearing on economic policy and reforms at a time the world’s fastest-growing major economy is increasingly seen as an alternative to China.
Having climbed more than 15% from a March low, India’s NSE Nifty 50 Index is trading at 18.2 times its one-year forward earnings, making it the most expensive national benchmark among major Asian markets, according to data compiled by Bloomberg. The Nifty Midcap 100 Index has risen 37% in the period.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Report: Sega Just Canceled Its Most Expensive Game EverAccording to some devs who worked on Hyenas, the game was a pricey mess behind the scenes
Leggi di più »
At least 23 Indian soldiers missing after flash floodSome vehicles have also been reportedly submerged under the slush.
Leggi di più »
At least 23 Indian soldiers missing in flash floodGUWAHATI: The Indian army said Wednesday that 23 soldiers were missing after a powerful flash flood caused by intense rainfall tore through a remote v...
Leggi di più »
Over 100 Indian students taken ill due to food poisoningNEW DELHI: Over 100 students of a government-run physical education institute were taken ill due to food poisoning and admitted to a hospital in the c...
Leggi di più »
Indian police launch raids on journalists, activistsNEW DELHI: Indian police raided the homes of at least eight journalists and activists on Tuesday, local media reported, deepening concerns over a crackdown in a country where media freedom has nosedived (pic).
Leggi di più »