No rush to sell India, buy China equities- Wood
Christopher Wood, global head of equity strategies at Jefferies, is not in favour of any “dramatic move” with respect to Indian and Chinese equities, according to a Jefferies’ Greed & Fear report.
Wood highlights the contrast between India and China, saying it “could not be more dramatic”. Citing the contrasting performance of Greed & Fear’s India and China long-only portfolios, he said the India portfolio has gained 41.2% year-to-date in dollar terms (on a total-return basis), while the China portfolio has dropped 12.1%.
The best performing stock in the Indian portfolio has gained 309% YTD, while the worst performer in China has lost 55%.
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Read moreRupee rises 4 paise to settle at 83.24 against US dollar
The rupee gained 4 paise to settle at 83.24 (provisional) against the US dollar on Tuesday, as a rally in domestic equity markets boosted investor sentiment.However, elevated crude prices in the overseas markets and safe-haven dollar buying amid concerns over the conflict in the Middle East weighed on the domestic currency, forex traders said.
At the interbank foreign exchange, the rupee opened at 83.23 and traded in the narrow range of 83.22 to 83.26 against the greenback. It finally settled at 83.24 (provisional), registering a gain of 4 paise over its previous close.On Monday, the rupee slipped 1 paise to settle at 83.28 against the US dollar. Come from Sports betting site VPbet
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