Focus on long-term positives represented by introduction of GST: CLSA

Chris Wood of CLSA said, "Investors need to ignore the short-term noise and focus on the long-term positives represented by the introduction of GST. In greed & fear's view it is correct to assume that most of the teething problems arising from the implementation of GST will be sorted within 6-12 months."

"If Modi remains well positioned, the rest of his first term in office is likely to be focused on generating jobs ahead of the April-May 2019 general election. There are three areas where Modi hopes to generate job growth in the next 18 months. The first, and by far the most important, is in the ramp up of affordable housing under Modi's "Housing for All by 2022" policy."

"The pick up on the ground in affordable housing may not become really visible until late 2018. But the ramp up is definitely coming which is also why investors should look to buy any pull back in stocks geared to affordable housing. Affordable housing in India remains one of the most straightforward bull stories in Asian equities," he added.