What is UBS' stance on Indian equities for Samvat 2081?
UBS is underweight on Indian equities relative to other EMs. MSCI India's earnings growth outlook for the next two years is at its lowest compared to EMs. However, India is trading at an 80 per cent premium to EMs, compared to a 10-year average of 42 per cent. This divergence between the fundamental growth outlook and valuations drives our underweight stance on India.
Is there a disconnect between the state of India's economy and its stock market?
We acknowledge that India is going through one of its slowest nominal gross domestic product growth periods in history. Somewhat related (but not exactly the same), the stocks in the larger indices are also seeing very slow earnings growth expectations. So, the optimism in the markets is primarily based on valuations and real rates rather than fundamentals.
هذه القصة مأخوذة من طبعة October 21, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة October 21, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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