Key Points
The valuation premium for stocks in the South Asian nation has risen sharply against that of emerging market, Asian and global peers..
In the short-term, the market has got stretched, so a 3-5% correction is on the cards, said Atul Suri, a fund manager at Marathon Trends Advisory Pvt Ltd.iStock..
A $590 billion stock rally in India since late March is at risk of faltering as earnings face headwinds and retail investors pull back amid stretched valuations...
Global funds may find better bargains in other emerging markets after pouring $13 billion into local stocks this year as domestic retail traders turn net sellers...
While the near-term rally in India may be at risk, strategists see continued appeal in Indias long-term growth story driven by a stable macro, the pace of reforms, infrastructure upgrades and the prospect of manufacturing and export-led growth, which could lift the potential growth of the country, said Amit Sachdeva, equity strategist at HSBC Securities and Capital Markets India Pvt Ltd...
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