Among sectors in Asia, JP Morgan prefers financials, domestic consumer discretionary and consumer technology. Notwithstanding the fall in the Sensex and the Nifty during the end of 2008, major emerging market fund managers actually increased their allocation to India in December.
Even if oil prices were to fall, it would have no real impact on the Indian consumer
Experts said concerns over the Union Budget, too, had weighed on the market performance.
FIIs pump in $1.4 billion in March, after pulling out $2.9 billion in Jan-Feb.
Higher growth justifies current run-up, say experts.
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