Steve Brice, Chief Investment Strategist, Standard Chartered Bank has expressed his free and frank opinion on the Indian share market as well as on the depreciating rupee and has forecasted when the rupee is likely to appreciate. His Views on Indian Stock Market and currency are as appended below:
If you look at India on a standalone basis, we have seen valuations drop quite significantly this year but it still remains around just below historical averages now compared to other markets that are able to trade well below historical averages. So that’s the challenge it faces. The slowdown in India is also harder to address. China has already started easing policy which is a positive step. They are going to do more on the fiscal side whereas India doesn’t have a huge amount of flexibility with the rupee where it is to cut interest rates with inflation where it is as well to cut interest rates or stimulate fiscal policy. So it’s going to be a little bit tougher in the short-term. Once the rupee starts to strengthen and that is probably going to happen in Q2 of next year then that will make policy decisions a lot easier and we should see foreign flows coming back to India as well.
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