August 4, 2023 8:20 AM

Brokerage firm Morgan Stanley upgrades India's markets to Overweight category; downgrades China

The brokerage firm, Morgan Stanley, has upgraded its view on India's markets to overweight from equal weight, predicting a ‘long wave boom’ ahead. The brokerage firm believes that India's reform and macro-stability agenda supports a strong capex and profit outlook. An overweight rating means that the firm expects India's economy to perform better in the future.  The upgrade has come in the backdrop of the US losing the AAA status and the economic slowdown in China. The...