Brokerage firm Morgan Stanley has upgraded India's stock market to 'Overweight' further Sensex to reach 68,500 by December 2023

Aug Sat 2023 02:27:22

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Brokerage firm Morgan Stanley has upgraded India's stock market to 'Overweight' further Sensex to reach 68,500 by December 2023

Kathmandu. Morgan Stanley, the world's leading rating agency, has given a good signal for India. American brokerage firm Morgan Stanley has changed the rating of India's domestic stock market to 'overweight'. Earlier he had given equal weight to India. Converting equal weight to over weight is a good sign for India.

Similarly, the company has downgraded China, Taiwan and Australia to 'equal weightage'. Morgan Stanley on Wednesday changed India stocks to 'overweight'. In addition, the company has indicated that India's economy will experience a 'long web boom' in the coming days. The 'overweight' term given by the company to India is that the economy of India will be more healthy and the stock market will perform well in the coming days.

According to the agency, India's macro indicators have remained resilient, due to which the Indian economy is on track to achieve the 6.2 percent GDP forecast. An overweight rating means the brokerage firm expects the Indian economy to perform well in the future. The change in India's rating comes at a time when the US has lost its 'AAA' rating status and China's economy is slowing.

Analysts at Morgan Stanley have said, "In our process, India has moved from 6 to 1." The report says India is arguably at the beginning of a long wave of growth, while China is nearing its end. A few months ago, Morgan Stanley upgraded the country's rating from underweight to equal weight, citing India's resilient economy. The firm estimates that India's Sensex index will reach 68,500 by December. The firm estimates that the Sensex will trade at more than 20.5 times.