Indian stocks have outpaced their global peers in 2024, as a steady economic backdrop has propelled the rally. Equities received another confidence boost after the MSCI rebalanced its major indices in August, keeping India’s country weighting above a fifth of the MSCI Emerging Market Index.
The larger weight represents a watershed moment for Indian stocks, said Paul Turner, executive director at Capex.com Middle East, an online broker speaking to FinanceAsia. He anticipates that the earnings outlook, paired with additional capital from the index’s realignment and existing interest in robust public investment and resilient private consumption, will strengthen market sentiment.
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