Market could be heading for best year since 2009: Morgan Stanley

Ridham Desai of Morgan Stanley says the market could be heading for best year since 2009.

Strong net demand for equities, improving growth and reasonable valuations continue to push equities higher, he adds.

“Be prepared for upside surprises for both growth and stock returns,” Desai says.

Indian equity benchmarks rallied 9 percent since the start of the year 2017, backed by domestic fund flows and stable Q3 earnings & better-than-expected GDP despite demonetisation.