Overweight on global equities, neutral on India: Standard Chartered Wealth

Standard Chartered Wealth Management is overweight on global equities, Daniel Lam, head of equities and derivatives strategy, told CNBC-TV18. Lam also said that the firm is neutral on the Indian equity market.

He said, “We are neutral on India but since we are overweight ex-Japan across all the equities globally and we are overweight equities overall and we have a preference for Indian markets.”

“If you look at the levels of Nifty, so far it has broken the resistance level and it is likely to be testing on the upside around 18,000 level. So, short-term there is still some upside in the Indian market, but the 18,000 level is a level to overcome,” said Lam.