Indian investors upbeat about economic prospects: JP Morgan survey

Indian investors were upbeat about economic and investment prospects, according to a survey by JP Morgan Asset Management and Valuenotes. The investment confidence index was at 135.9 at the end of July, indicating a high degree of confidence among investors and was calculated by averaging the values of three sub indices.

The index, published on a quarterly basis, aims to measure confidence levels of retail, corporate and financial advisers on the economic and investment environment in India and values are assigned between zero and 200, with zero denoting a very negative outlook and 200 the highest value.

Retail investors are more confident of making additional investments than financial advisers and investors expect the benchmark BSE Sensex to rise to 16,000-17,000 by December. It was down 2.6% at 15,000 on Monday. Half the firms surveyed said the rupee will likely gain in the next six months while 76% of respondents said interest rates will rise.