Heard on the Street: Time to take money out of Indian stocks
Prime Minister Narendra Modi’s resounding success in last week’s Indian elections may make for a strong government, but a strong stock market won’t necessarily follow.
Indian stocks have risen to record highs since May 20, after exit polls indicated Mr. Modi would be re-elected. The S&P BSE 100 index is up 10% this year, compared with 2% for the broader emerging-markets benchmark. Foreign investors have been net buyers of Indian stocks this year after ditching them in 2018.
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