How good will President Donald Trump be for Indian stocks? Analysts decode
Indian stock market, which was struggling amid FII outflows, disappointing Q2 results and valuation concerns, managed to throw out bears with the Sensex ending higher by over 900 points.
Equity investors, who have historically had a liking for Republicans in Washington, cheered the mandate given to Trump amid hopes of tax cuts, increased government spending and deregulation.
The market is also hoping that the new regime will not hurt the H-1B visa rules, leading to a rally in the recently beaten-down IT stocks.
«Our outlook for Indian markets under a potential Trump administration remains optimistic. While global trade volatility may rise, India stands to benefit as a relative beneficiary amongst emerging markets as US companies pursue a ‘China +1’ strategy, likely boosting sectors like EMS, chemicals, and pharmaceuticals,» said Trideep Bhattacharya, President & CIO-Equities, Edelweiss MF.
Trump’s pro-business policies might drive interest in the US as well as economies like India that are driven by strong domestic demand growth, he said.
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