Mumbai: International investment bank Morgan Stanley has increased its overweight (OW) stance on the Indian equity market. The US based investment bank named India as the ‘most preferred emerging market.’ The Indian domestic equities top the Morgan Stanley ‘s global equity investment score with an overall score of 68.
‘Relative economic/earnings growth is improving and the macro-stability setup looks sufficient to withstand the higher real rate environment. The ‘DREAM’ run of domestic flows continues and multipolar world dynamics are driving both FDI and portfolio flows toward India. India remains standout overweight. We increase our overweight stance on Indian equities and as our most-preferred emerging market,’ Morgan Stanley said in its latest report.
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Singapore is at the second highest score with 54. It is followed by Greece at 47, Mexico at 43, and Poland at 38.
According to JPMorgan’s James Sullivan, India’s economy is predicted to reach $7 trillion by 2030.
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