BofAML Is Positive On Indian Equity Market Over 6 To 9 Months

Thanks to weak earnings, Indian equity markets will give a flat to slightly negative return near term, but over the next 6 to 9 months, BofAML analysts remain positive. Anand Kumar and team at Bank of America Merrill Lynch in their May 20, 2015 research report titled: “Year II: How to position” anticipate banks will be the key beneficiary of lending rate cuts. Indian earnings to improve late 2015 According to the BofAML analysts, though the 1-year old Modi government has undertaken a few reforms, market expectations had been high. They point out that contrary to common market expectations, in…