يحاول ذهب - حر
Jefferies Spots Fall Risk in Dalal Street
March 05, 2025
|Mint Hyderabad
India might be cheaper now than it was four months ago, but Chris Wood, global head of equity strategy at Jefferies, is not just celebrating bargains. He is also scanning for red flags, particularly redemptions.
The big question on his mind: Will domestic institutional investors (DIIs) keep buying? "Based on my discussions with mutual fund companies last week, they don't see those signs (of redemption) yet, as I asked them directly," he told Mint.
Drawing from his latest "Greed and Fear" report and conversations in Mumbai last week, Wood noted that there is confidence that these inflows will continue. However, he cautioned, "The real risk will arise if and when investors begin to see year-on-year losses in their portfolios."
Broadly speaking, he believes the risk of further corrections persists. While India has already experienced a substantial correction that contributed to the slowdown, he sees the bigger threat now looming from external forces—particularly the US.
Another critical variable? The dollar. He expects a peaking out in the dollar. The peaking of the dollar will give more room for the RBI to ease, which it has already started doing, he says. "But if I am wrong on the dollar, it's going to be more negative not just for Indian equities but for all emerging markets."
On the India vs China debate, Wood highlighted a clear trend: investors have been steadily reducing their exposure to India over the past few months while increasing allocations to China. "I have been adding to China since then and increased my allocation further after the DeepSeek news. But overall, this foreign selling in India is clearly a rotation into China," he said.
Edited excerpts of the interview:
Your latest Greed and Fear report suggests that you are not concerned about a structural slowdown in the market and the economy. What is your perspective on India Inc.'s weak corporate earnings?
هذه القصة من طبعة March 05, 2025 من Mint Hyderabad.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
هل أنت مشترك بالفعل؟ تسجيل الدخول
المزيد من القصص من Mint Hyderabad
Mint Hyderabad
Oil shock shudders need not scare equity holders
The Iran war has made oil spike and equities slide. While RBI could steady the rupee with its dollar stash, investors should focus on what stocks are worth instead of capital gains
2 mins
March 10, 2026
Mint Hyderabad
LPG curbs tightened as oil roars past $100
Supply constraints likely; G-7 may open strategic crude reserves
1 min
March 10, 2026
Mint Hyderabad
WC win makes players more bankable
India's ICC Men's T20 World Cup victory on Sunday—its second in a row after the 2024 triumph—is already shaping conversations around endorsements for cricketers, with top performers attracting early queries.
1 mins
March 10, 2026
Mint Hyderabad
Capital gains exemption on shares: what NRIs should know
I am an NRI living in Australia. I filed my FY25 tax return to claim TDS refund and gave my NRE account details, but the refund has failed. Now, can I change the refund account to my NRO account, and request the refund again?
1 min
March 10, 2026
Mint Hyderabad
GM's aftermarket brand back in India
American auto major General Motors’ (GM) aftermarket automotive products brand ACDelco has reentered the Indian market on Monday through a licensing pact with Assurance Intl Ltd.
1 min
March 10, 2026
Mint Hyderabad
Ather eyes big distribution growth, to add 400 stores
Company targets 1,100 stores by March 2027, which translates to over one store opening a day
3 mins
March 10, 2026
Mint Hyderabad
360 One Asset closes $400-mn private credit fund
60 ONE Asset has closed its fifth private credit fund with a corpus of $400 million (₹3,500 crore) and will offer structured and innovative credit solutions to high-quality Indian companies, the investment firm said in a statement on Monday.
1 min
March 10, 2026
Mint Hyderabad
Arcil appoints Phanindranath Kakarla as CEO and MD
Asset Reconstruction Company (India) Ltd (Arcil) on Monday said it has appointed Phanindranath Kakarla as its chief executive officer (CEO) and managing director (MD) with effect from 8 March, succeeding Pallav Mohapatra, the company said in a release.
1 min
March 10, 2026
Mint Hyderabad
War raises alarm for India Inc
The conflict presents a trifecta of risks for Indian companies—soaring crude prices, supply-chain disruptions and a depreciating rupee, experts say
1 min
March 10, 2026
Mint Hyderabad
India urges dialogue for West Asia peace
India on Monday advocated deescalation of tensions in West Asia and called for dialogue and diplomacy to resolve all underlying issues, as it put the safety of around one crore Indians in the region as its top priority, along with securing energy security and trade.
1 min
March 10, 2026
Listen
Translate
Change font size
