Business

Even in the midst of weak economic conditions, this foreign giant has faith in the Indian stock market

At present, there is an atmosphere of volatility in the stock markets around the world including India. Even in such odd circumstances, foreign giant investor and firm Jeffries’ leader Christopher Woods believes that the Indian stock market is the best not only in Asia but in the whole world. According to him, the local market has maintained its strength even amidst heavy selling by foreign investors in India, which is a wonderful thing.

Christopher Woods during an interview has said that even if under any circumstances the benchmark nifty50 index of the Indian stock market breaks down from the current level to 14000, he will still increase the weightage on India in his model portfolio. They attribute this to the boom in the local reality market and the huge local consumer market.

The symbolic picture (File Photo : IANS)

Experts believe that India has the highest weightage of 14% in Christopher Woods’ model portfolio designed for investment in the Asia-Pacific region. This is an indication that no major panic is expected in the Indian market at the moment. He says that for us the current year will be a consolidated year in which you add your favorite stocks to your portfolio during a correction in the market.

Justifying the sudden interest rate hike by the Reserve Bank of India in the recent past, Christopher says that the rupee would not have depreciated much if steps were taken at the right time. An increase of two to two and a half percent in interest rates by the Reserve Bank will be enough to keep inflation under check. Whereas local fund houses are showing apprehension of a 3% interest rate hike. They are also bullish on the energy sector after realty stocks as the price of crude oil will cross the level of $150 per barrel, it is being predicted. Currently, New Age IT and Technology stocks are looking attractive after a major correction.

(The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Investing money on behalf of loktej.com to anyone That is never advised here.)

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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