Overweight on India, market likely to see volatility in short-term: Standard Chartered Wealth

Standard Chartered Wealth Management is overweight on the Indian equity market, Steve Brice, chief information officer, told CNBC-TV18. Brice also said that the Indian market could see volatility in the short term.

“We are overweight on India; we have seen an extremely strong performance over the course of the past few months. It’s really difficult to bet against the Indian stock market. Obviously, people can talk about valuations, challenges etc., and we are seeing oil prices being big which historically is bad for India, but overall, the market’s just struggling, they are softened and are seeing a very strong environment generally,” he said.

Brice also said, “The good news for India is that the dollar has not broken higher, despite the trend, 10-year treasury yields in the US going up, but overall, the environment suggests that the stock market could see some volatility in the short-term, but the trend seems to be the friend for now.”