Indian equity market’s resilience may be a signal that a new investment cycle is nearer at hand than the consensus thinks, said Christopher. Markets are now driven by politics instead of central banks, according to Christopher Wood, an equity strategist at investment group CLSA. ABOUT Christopher Wood. Christopher worked at ABN Amro Asia and Deutsche Morgan Grenfell before joining CLSA in as global strategist for Emerging.
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Your Reason has been Reported to the admin. I started the year triple overweight India. I am increasingly confident that capex has started to pick up: There will be more slowdown than previously anticipated but clearly a lot of that slowdown has been probably more than discounted in the sharp selloff.
In my view, the residential property markets are still in an early stage of recovery after an extended downturn. I would not put it stronger than. The other area where I would take advantage of woox recent correction to add to the exposure is the affordable housing area.
CLSA maintains its double overweight stance on India. Get instant notifications from Economic Times Allow Not now You can switch off notifications anytime using browser settings.
Read more on Indian Stock market. Drag according to your convenience. It also should be positive for the government in terms of them getting re-elected. You have always been a long-term believer in India. Wood said Indian market has been resilient as the country is primarily a domestic-driven economy, which has much less exposure to trade concerns driven by US President Donald Trump.
However, we are not out of the woods completely because we still have US monetary tightening going on. So clearly a slow. Foul language Slanderous Inciting hatred against a certain community Others. To see your saved stories, click on link hightlighted in bold. Your Reason has been Reported to the admin.
If, however, I am wrong and there is no trade deal between US and China, then it is just bearish. The pleasant surprise this year has been the equity inflows have been maintained to a greater degree than most of us were expecting. That has made it harder to read the data series. Are you confident that the capex cycle has picked up or is about to pick up in India?
Christopher Wood (financial analyst)
Pledged share issue in India not as grave as China: But my base case is at some point next year, the US monetary tightening will end and the dollar will peak out. CLSA retains cautious view on Indian equities. I think it is too late to reduce positions in Christlpher but based on my base case that the Modi government gets re-elected next year but with a reduced majority and that we get evidence of a capex cycle, I would be looking to raise my weightings early next year.
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Christopher Wood, Equity Strategist, CLSA
Technicals Technical Chart Visualize Screener. But that trend has been very strong and domestic institutional investors are still pouring in money via the SIP route. This is all the more impressive given that the rupee is down 9. My Saved Articles Sign in Sign up. Clearly, growth is going to slow in that area as a result of the shock waves from the triple A credit defaulting. So how does this change the equation for markets and especially for liquidity?
Will be displayed Will not be displayed Will be displayed. The unpleasant surprise in India was the bond default. I reduced it to double overweight. But the key issue right now is not the equity christophed, it is the bond funds given what happened on the NBFCs.
Wood said Indian market has aood resilient as the country is primarily a domestic-driven economy. It would also mean that any correction will be a buying opportunity, said Wood.
Technicals Technical Chart Visualize Screener. Get instant notifications from Economic Times Allow Not now. My Saved Csa Sign in Sign up. This will alert our moderators to take action Name Reason for reporting: NIFTY 50 10, 2. One should be buying the fear rather than getting scared from the fall?
Mutual fund flows into equities are at a risk: Chris Wood of CLSA | Business Standard News
My hope is that the worst has been seen in this area. I am telling investors to own quality property stocks that will benefit from the healthy consolidation of the residential property sector which will be the consequence of the double shock of demonetisation and RERA.
But I completely agree with what you just said that the indications are that the investment cycles are on the point of turning and the resolution of some of these NPAs is a hugely significant and constructive development.