Modi win makes India stock market story more exciting than ever: Chris Wood

Wood sees mutual fund flows to equities to resume post the outcome of the general election and expects the reforms initiated by the Modi govt in its first term to bear fruits over the next 5 years

The re-election of Narendra Modi as India’s Prime Minister for the second consecutive term with a thumping majority is a positive and the government should now focus on economic development and reforms to create jobs over the next five years, says Christopher Wood, global head of equity strategy at Jefferies.

“With ten years in power he now has the time to change the country in a fundamental way, which makes the Indian stock market story more exciting than ever. Speaking of the stock market it, naturally, greeted the landslide with initial euphoria which is also good for GREED & fear’s