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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A stable coalition can lift Nifty past 12,; may fall to 10, if weak: So in the two-month view, it is all about the trade war but if I am right, we get some kind of trade deal between US and China, there will be a counter-trend relief rally.

You have always been very positive about Chritsopher HFCs. Never miss a great news story! The affordable housing programme is kicking in on the ground. My Saved Articles Sign in Sign up. Get instant notifications from Economic Times Allow Not now.

That has made it harder to read the data series. Choose your reason below and click on the Report button.

Technicals Technical Chart Visualize Screener. But when we met in April, you had reduced your overweight position in India. One should be buying the fear rather than getting scared from the fall? But that trend has been very strong and domestic institutional investors are still pouring in money via the SIP route. I chrristopher the year triple overweight India.

Capex cycle revival, Modi re-election key for rally: CLSA’s Chris Wood

So how does this change the equation for markets and especially for liquidity? There is a looming fear of trade war. My hope is that the worst has been seen in this area. 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.


This will alert our moderators to take action Name Reason for reporting: In my view, the residential property markets are still in an early stage of recovery after an extended downturn. I definitely think that but there is a technical issue which we cannot ignore and that technical issue is that the legitimacy of credit ratings has been badly damaged if not destroyed which would mean that the market is now going to pay more attention to the parentage of these companies because they do not trust the credit ratings and there is a regulatory issue of what the regulators are going to do to address this area, because clearly this is not an area the regulator warned about before the problem happened.

CLSA retains cautious view on Indian equities. Get instant notifications from Economic Times Allow Not now. It is a positive because foreigners have been selling and that is just playing good news because it makes the stock market much more resilient.

Mutual fund flows into equities are at a risk: Chris Wood of CLSA | Business Standard News

The problem from macroeconomic stand point is that all the top-down data in India has been heavily distorted by the two events of demonetisation and second structural reforms in case of GST implementation. In a note in February, immediately after the budget, you had raised concerns that after the imposition of capital taxes, the domestic inflows into equities will slow down. The Sensex is up I am increasingly confident that it has already started to pick up.

In the short term, it depends on whether you believe there is going to be a trade deal at the G summit or not. A non-BJP government in not impossible: Your Reason has been Reported to the admin.

But the key issue right now is not the equity funds, it is the bond funds given what happened on the NBFCs. NIFTY 50 10, 2. But my base christophher is at some point next year, the US monetary tightening will end and the dollar will peak out. NIFTY 50 10, 2.


Mutual fund flows into equities are at a risk: Chris Wood of CLSA

The delivery of affordable homes is a long-term growth story which is very positive for cnristopher companies exposed to it. Kamlesh Rao, Kotak Securities. Choose your reason below and click on the Report button. This is all the more impressive given that the rupee is down 9.

This will alert our moderators to take action Name Reason for reporting: Fill in your details: Never miss a great news story! I am increasingly confident that capex has started to pick up: How would you map the risk-reward ratio for equity as an asset class? Are we in for tough days, better days or flat days for equity markets? Find this comment offensive? My Saved Articles Sign in Sign up. Christophher think it is too late to woid positions in India 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.

Use correction in financials to buy for the long term: CLSA’s Chris Wood | Business Standard News

That to me is a pleasant surprise. Asia is the market that has been hit most by the so called US-China trade war. Technicals Technical Chart Visualize Screener. The other area where I would take advantage of the recent correction to add to the exposure is the affordable housing area. Drag according to your convenience. Wood said this would mean that the stock market will be much more resilient to monetary tightening and a higher oil price woid currently assumed. So clearly a slow. Read more on CLSA.