Street re-rates India, sure Narendra Modi can kickstart growth

May 20 2014, 00:49 IST
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Markets at new highs, cash volumes highest in 3˝ years Markets at new highs, cash volumes highest in 3˝ years
SummaryMarkets at new highs, cash volumes highest in 3˝ years

the underweight in China by one percentage point and by reducing Thailand by one percentage point to neutral,” Woods said.

Deutsche Bank upped its year-end target for the Sensex to 28,000, arguing that the historic election verdict justifies a re-rating of the Indian market. It pointed out that over the last decade a fragmented coalition, with differing economic ideologies, had been the key reason for the “economic malaise”.

Bloomberg reported that India’s currency reserves have risen by $39 billion from a three-year low in September to $314 billion, according to latest official figures, signalling the monetary authority has bought dollars.

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