Why Standard Chartered Wealth is overweight on these three sectors

Steve Brice, Chief Investment Officer at Standard Chartered Wealth Management is overweight on consumer discretionary, industrials and healthcare sectors.

We are in the pre-election cycle now which is generally good for stocks, he said, adding, "we think the consumer story is likely to remain robust as we go through the first half of the year. Obviously, continued government spending is a positive. On the industrial side, seeing incentives coming through for increased investment that might kick in the second half of the year.. So those are obviously the procyclical elements of the market. And then we are overweight healthcare at the global level and in India as well. Bit more defensive in nature."

Brice is bullish on the Indian market citing favorable macroeconomics and earnings prospects along with more reasonable valuations compared to recent times.