Page three - Indian equities (September 27)

India’s stock market, measured by the Nifty 50, has been this year’s best performing regional index in USD-terms, up almost 28%, on higher inflows into emerging markets, the appeal of India’s long-term investment story, and optimism about Prime Minister’s Modi reform program.

However, it is possible that the Nifty has topped out in the short-term. It was down 2% last week, on increased macro and corporate concerns. The biggest worry is the economy’s recent under performance as companies and individuals try to adjust to the dual policies of demonetization and the introduction of the GST tax.

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Ken_Dyks
Ken_Dyks

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Paul Krake
Paul Krake

Editor

The recent bout of USD strength certainly hasn't help this equity weakness. Time to look in some profits. Hard to see significant EM strength between now and year end if US yields are going to continue to rise at the margin



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