Polls to Disrupt India Stocks Calm in 2024, Morgan Stanley Says
- Volatility in Indian equities has slumped 25% so far this year
- India stocks have outrun Asian, EM peers on economic growth
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The tranquility in India’s $3.7 trillion stock market is set to be broken as the world’s most populous nation heads to polls in about six months, according to Morgan Stanley.
While the Wall Street bank expects stocks to rise leading to the vote in keeping with recent history, any outcome outside of investors’ expectations could spark a slump of as much as 30% in India’s equity benchmarks.