Bernstein CY24 market outlook: Moderate year for India, China to bottom out
In an exclusive interview with CNBC-TV18, Rupal Agarwal, Senior Research Analyst–Asia Quantitative Strategy at Bernstein, provided valuable insights into what investors can expect in the Indian equity landscape.
Rupal Agarwal, Senior Research Analyst–Asia Quantitative Strategy at Bernstein, believes a lot of the factors that supported the sharp market rally last year may not be there this year, making this a year of moderate gains.
"...it's not negative, but it's fading away whether it’s earnings upgrades, flow, the big disconnect that the valuations are right now having with the bond yields," Agarwal said.
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Agarwal observed that some global investors have been adjusting their portfolios by trimming down their heavily weighted positions in India and slightly increasing exposure to China. However, India is still not an underweight among most investors at this point, she noted.
Technology features prominently among her sectoral bets with a buy recommendation. Another space she is positive on is consumer discretionary where there is momentum in quality names that are reasonably valued. On financials, the approach is more selective.
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