Dubai, United Arab Emirates: Ben Laidler, Global Markets Strategist at eToro, said: “Indian prime minister Narendra Modi has been elected to an unprecedented third term in the world❼largest democracyNagpur Stock. But the scale of his victory has fallen short of investors✩igh expectations and driven volatility across local stocks and the currency.
Indian stocks were near unique in having outperformed the juggernaut US stock market in recent years and commanding an even higher stock market valuationJaipur Investment. As India❼combination of strong GDP growth, youthful demographics, and reformist government have been catnip to investors.
The India ETF (INDA) has become the 7th most owned on the eToro platform by investors from the UAE, and the most popular not focused on US assets. And optimism was running high into the election, with the number of holders up 38% in the last three months, the most of all major ETFs.
A reset to these high investor expectations is to be expected, and any investment reallocation could benefit fellow emerging markets heavyweight China, which has recently returned to bull market territory. But India❼long-term investment outlook looks secure with Modi❼reform agenda potentially slowed but not derailed, and the GDP growth and demographic tailwinds still in place.”
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