Assembly elections: BJP win set to boost India's appeal for foreign investors - Times of India
[ad_1]
A win for Prime Minister Narendra Modi ’s party in key state elections is likely to boost India’s appeal for foreign investors and result in more inflows into local equities, according to market participants. Portfolio managers say the results will ensure policy continuity and lift prospects for the stock market as international investors become more confident in their India allocations ahead of national elections.Jefferies Financial Group Inc. sees cyclical stocks benefiting the most from the outcome of the polls while Nuvama Wealth Management says it has become more confident in the government’s capital expenditure. India’s benchmark NSE Nifty 50 Index closed at a record high on Friday while the futures climbed as much as 1.6% early on Monday. Here’s what market participants are saying: Gary Dugan, chief investment officer at Dalma Capital Management Ltd "Going into this set of state elections, there were some concerns among foreign investors that the BJP would suf