Morgan Stanley remains overweight on India

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Here is expert equity call for the day on how the markets are expected to trade:

Jonathan Garner, Morgan Stanley: With US Fed discount rate hike, we feel that the market is now fully aware that the period of maximum policy accommodation is behind us, but the 13% correction has led to a contraction in the P/E multiple on the MSCI EM Index. We feel that the catalyst for the market to rally will be the likely peak in Asian inflation this summer. We remain overweight on India.