Hurdle is high for India's stock market even if Modi wins a second term

The bar is high for Asia’s most-popular destination of 2019 for overseas money even if Prime Minister Narendra Modi wins a second term in elections starting Thursday.
 

A survey of 21 global funds and strategists show most expect him to return, an outcome that may be baked into asset prices. With valuations already high, the disappointment if he fails to get a majority, needs to form another coalition -- or loses the poll -- may deflate the rally that’s made India the first among markets valued at more than a $1 trillion to hit a new peak this year.

“Numbers will