NFTY - INDY: India's Lagging Uber Caps Are Worth A Look
2024-05-19 04:11:39 ET
Summary
- Indian stocks have continued their march higher.
- Recent volatility indicates not all of the positives have been priced in.
- Having lagged the smaller caps, an uber cap 'catch up' is overdue.
India's benchmark Nifty 50, which tracks the country's fifty largest stocks (i.e., the uber caps), has continued its march higher since I last covered its US-listed tracker fund, iShares' India 50 ETF ( INDY ) (see INDY: No Stopping India's Nifty 50 Stocks Into 2024 ). Last week saw some jitters creep into the market, however, ahead of election results - despite some very positive macro data ( strongly expansionary PMIs , benign inflation prints ) and upward earnings revisions at the micro level....
INDY: India's Lagging Uber Caps Are Worth A Look