The Indian stock market remained resilient despite global macroeconomic challenges, recording modest gains of 2% in July after a volatile month, and the near-term outlook is now improving, assuming no re-escalation of geopolitical conflicts, HSBC Mutual Fund said in its latest report.
HSBC expects India's investment cycle to be on a medium-term uptrend supported by government investment in infrastructure, support to manufacturing and pickup in private investments. It added that announcements of potential trade deals with the European Union and US should also support exports.
