Nomura is expecting India's growth to be the best in the Asian region in 2019. It is also positive on the market with a Nifty target of 12,170 for the year end which is a fourteen percent upside from current levels.
Sharing his views on the same, Jim McCafferty of Nomura, said, “In the context of the markets around India, we find that India is particularly attractive because of the growth in the economy which is more than 6 percent this year ... also because India’s companies are geared into that economic upcycle. So, I think it is a bit of context that India is one market that we are particularly fond of in the context of the Asia-Pacific."
“The one difference between China and India is India does have higher growth and potentially upside in terms of earnings growth. What China has, however, is probably a government that might get more involved in equity market. From growth context, there is no doubt the growth in India is better but I think from a stock market point of view, China might give some upside this year,” he said.