Global funds, domestic investors to drive markets

Funds with global mandate and domestic investors should continue to drive Indian stocks, says CLSA.  

CLSA says funds with global mandate looking into the long-term structural nature of the India story and adds global funds flow to Indian shares at $16 blllion YTD – lower than $18 billion average over the last three years.  

It expects annual net inflows of $15 billion from domestic investors over the next few years.  

ICICI Bank , Axis Bank  and State Bank of India  remain top ideas among lenders.  

CLSA adds Coal India  in its model portfolio and adds weight to Mahindra and Mahindra and cites India's plans to double Coal India's production in five years.  

It removes Hero MotoCorp  and Sesa Sterlite from model portfolio.