Morgan Stanley stays Overweight on India; ICICI Bank, Gail among top 4 stocks in focus list

Finally! Some good news for emerging markets which witnessed huge foreign money outflows thanks to the rise in the US Dollar. In 2018, a tricky handoff in growth, policy and inflation drove a rolling bear market.

However, for 2019, Morgan Stanley expects a larger turning point in a number of multi-year trends. Emerging Markets (EM) assets should outperform.

The global investment bank thinks that the bear market is mostly over for EM, has further to go in US credit and is about to begin for the US dollar.