Bernstein says stock market selloff a bit extreme

BJP, election results: Bernstein says stock market selloff a bit extreme, modest rebound likely Bernstein in its latest strategy note said Indian voters are great teachers and that they certainly surprised the politicians, exit pollsters and market watchers in the recently concluded Lok Sabha elections 2024. From expectations of a victory even larger than 2019 to a situation where a clear majority for BJP on its own looks difficult, India has flipped 180 degrees within one day, it said. But the brokerage called the market sell-down as a bit extreme from a very short-term perspective. It sees room for a modest rebound, with capex-linked stocks leading the recovery. Bernstein retained its view of high single-digit returns, with the Nifty target unchanged at 23,500. It expects volatility to remain a feature given uncertainty on policy path. It is overweight on financial stocks but have selective picks across sectors. [Read more]( If you would prefer not receiving our emails, please [Click Here](