Indian stocks climbed to the highest level in more than three weeks, tracking Asian equities, as higher-than-forecast data for U.S. payrolls and the services industry boosted prospects for exports to the biggest economy.
India’s more than 20 percent growth in earnings and slowing inflation will spur further gains in the nation’s equities after the benchmark stock index surged to a record, according to Franklin Templeton Investments.
Indian stocks dropped for the first time in three days, paring a weekly gain, as concerns about the country’s slowing economic growth outweighed optimism the U.S. economy is weathering the European debt crisis.
Sukumar Rajah , who oversees about $4 billion as chief investment officer of Asian equities at Franklin Templeton Investments, comments on the outlook for India’s equity markets in 2011. He spoke in an interview with Bloomberg UTV today.
India and China are poised to become the first emerging markets in Asia to trade credit-default swaps on local-currency debt as investors seek protection against losses from funding projects in the region’s fastest-growing economies.
Investors who missed Indian stocks’ rally to a record may find gains among smaller companies in the next six months, according to Religare Asset Management Co., controlled by the billionaire Singh brothers.