Wall Street piles into bullish calls on India's National Stock Exchange

Morgan Stanley and JPMorgan have initiated coverage on National Stock Exchange of India shares with overweight ratings, and domestic Indian institution 360 ONE Capital Markets also recommends buying the stock. This optimism reflects market confidence in the structural expansion of India's capital markets, despite short-term market concerns over slowing growth in the derivatives business. NSE is regarded as the "engine of India's capital markets," and its market dominance and asset-light model are expected to support high valuations.