--- title: "隨着印度經濟增長勢頭增強，成長股成為優於價值股的選擇" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/278919075.md" description: "印度的經濟增長促進了成長股的發展，MSCI 印度成長指數在過去一年中上漲了 19.9%，超過了 MSCI 印度價值指數的 12.6%。2026 財年的 GDP 增長預測現在為 7.6%。專家建議保持謹慎，認為具有高潛力且估值合理的公司可能表現更好。地緣政治緊張局勢，特別是在西亞，可能會影響油價和外資投資，導致市場波動。儘管如此，一些分析師認為，在調整期間，成長股可能會提供買入機會" datetime: "2026-03-11T19:32:17.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278919075.md) - [en](https://longbridge.com/en/news/278919075.md) - [zh-HK](https://longbridge.com/zh-HK/news/278919075.md) --- # 隨着印度經濟增長勢頭增強，成長股成為優於價值股的選擇 The MSCI India Growth Index ended February with gains of 19.9 per cent on a rolling 12-month basis, compared to 12.6 per cent for the MSCI India Value Index. If it holds, the lead for the financial year ending March 2026 (FY26) will be wider than seen in FY25. The MSCI India Value Index return was 1.9 per cent for the 12 months ending March 2025, compared to 6.4 per cent for the MSCI India Growth Index over the same period. The government’s updated methodology estimates gross domestic product (GDP) growth at 7.6 per cent for FY26, outpacing the 7.4 per cent projected under the previous calculation. **What explains the outperformance of growth stocks?** Broadly, a growth strategy in stock markets targets companies with the potential to expand their business faster than average, operating on the premise that these gains will translate into higher returns even if valuations are high. A value strategy buys stocks trading at relatively inexpensive valuations — for example, a company trading at less than the value of its assets — though some investors also argue the divide is not necessarily binary. Value narrowly outperformed growth in the past two months but it has largely been an underperformer since 2023, according to a Business Standard analysis. It looked at returns on a rolling 12-month basis to get a clearer idea of gains irrespective of starting and ending points. **Why are market experts advising caution?** Market experts advise caution Amnish Aggarwal, director of research (institutional equities) at PL Capital, said that this may not be a juncture at which growth will outperform at any cost. Companies which exhibit high potential and are available at reasonable valuations will likely do better, even as growth may continue to do well as a theme overall. “Market loves growth,” he said. **How could geopolitical tensions affect markets?** Geopolitical factors may play a role in the days ahead. The US and Israel are at war with Iran, pushing up oil prices and putting West Asia in turmoil. India imports more than 85 per cent of its crude oil requirements and higher prices may affect the economy. War also discourages foreign investor risk appetite and can impact flows. Foreign portfolio investors in Indian markets have been net sellers by nearly Rs 70,000 crore in FY26. “In times of global risk aversion, value tends to do better,” said Nilesh Shetty, portfolio manager at Quantum Advisors, a value-focused investment manager. Indian markets slipped around 1 per cent in their initial reaction after the attacks on Iran on February 28, suggesting that the conflict was not expected to be prolonged. There could be significant downside if events turn out otherwise, according to Shetty. Several growth stocks, including platform companies, are trading at attractive valuations. Further market corrections could lead to more buying opportunities, said Shetty, who is sitting on 7 per cent cash in a $2-billion portfolio. “….markets may be volatile over the coming weeks but would likely thereafter start to refocus on positive global economic fundamentals,” according to a March 1 UBS Investment Research note from Global Wealth Management chief investment officer Mark Haefele. ### 相關股票 - [SMIN.US](https://longbridge.com/zh-HK/quote/SMIN.US.md) - [CI2U.UK](https://longbridge.com/zh-HK/quote/CI2U.UK.md) ## 相關資訊與研究 - [科技股與價值股交織，市場信心與風險並存，投資策略需謹慎調整](https://longbridge.com/zh-HK/news/287123851.md) - [美股面臨高公債殖利率與地緣政治風險，經濟增長前景堪憂](https://longbridge.com/zh-HK/news/287253660.md) - [台股震盪 1500 點後，下一波主升段正在悄悄換股](https://longbridge.com/zh-HK/news/286996171.md) - [台股面臨修正壓力，科技股信心不減，AI 技術成長潛力引發市場關注](https://longbridge.com/zh-HK/news/286660372.md) - [半導體與 AI 市場升温，能源供應緊張促使價值股成為投資新寵](https://longbridge.com/zh-HK/news/287100424.md)