Brokerage house Nomura sees the medium term outlook on India turning positive with a stable NDA-led government most likely to come to power. The brokerage house sees India's growth mix shifting in favour of investment and says that the economy is at an inflection point.
"We believe that India‟s medium-term outlook is likely to gradually turn positive. With growth bottoming out, increased credibility of the Reserve Bank of India and faster execution cycle likely post elections, we believe that India's growth mix will change (away from consumption towards investment) and macro-imbalances will gradually correct," said the Nomura note to clients.
The Sensex is up 288.97 points or 1.23 percent at 23839.97, and the Nifty is up 83.25 points or 1.19 percent at 7097.50. About 1079 shares have advanced, 450 shares declined, and 74 shares are unchanged.
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