Indian Markets - Jefferies - 28.05.2021
Chris Wood of @Jefferies sees continuing resilience of the Indian #stockmarket. Here are the details
• Investors Should Stick With The Pro-Cyclical Commodity Trade
• See A Procyclical Trade, Particularly Energy
• Efforts To Talk Down Commodity Prices
• Fund Managers Have Reported Highest Positioning In Cyclical Stocks
* Ratio Of The S&P500 Market Cap To The Federal Reserve Balance Sheet Is Now 4.6x
• On India
• Growing Evidence That The Second Covid Wave Has Peaked In India's Major Cities
* 7-Day Average Daily New Cases In Mumbai And Delhi Have Declined Sharp
* See Continuing Resilience Of The Indian Stock Market
