Many worry Prime Minister Narendra Modi’s party may not achieve the landslide victory predicted earlier
Foreign investors are loading up on options to hedge their equity portfolio against a slide in benchmark indices as they worry that Prime Minister Narendra Modi’s party may not achieve the landslide victory predicted by opinion polls just weeks ago.
But a lower turnout so far in India’s general elections and changing political rhetoric have dampened expectations of a landslide victory for the BJP and its allies.Foreign investors worried about the election outcome will resort to buying puts of the Nifty 50 or the Bank Nifty , which are the most liquid derivatives, said Vineet Arora, managing director at Dubai-based investment firm NAV Capital.
The Nifty 50 Index last week fell 1.9%, compared to a 1.85% rally in U.S. equities and a 1% gain in the MSCI Emerging Markets Index.A put option is a derivative contract that investors turn to protect their equity portfolio from losses.
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