India looks increasingly attractive in the Asian emerging market context, says Christopher Wood

Christopher Wood, global head of equity strategy at Jefferies, expects a dramatic synchronised global recovery as the world comes out of the pandemic.

Wood said, "We have increased our allocation to India yesterday. From a relative standpoint India has been looking attractive in Asian emerging markets context in the last few months. The most constructive thing right now about India is that the COVID cases have continued to come down even after the Diwali holidays because we are seeing contrasting trends in different parts of the world, particularly in Europe and US."

"The dollar ended 2020 on a very weak note. Weaker dollar is positive for all emerging markets including India. So my base case is we are going to have a dramatic synchronised global recovery as we come out of this pandemic. However I expect a dramatic cyclical rebound when the health crisis is over and it will lead to higher oil prices", he said.