80 to the dollar in the next 6 months’
The rupee has been canada goose clearance sale fallingvis vis the dollar for quite some time now. In fact, it is the Canada Goose Coats On Sale worst performing Asian currency in 2018, having depreciated over 15 percent since January. Foreign investors have seen their uk canada goose outlet investments in India suffer as a result, because the fall in the currency’s value has wiped out a significant amount of their gains.
At Canada Goose sale such a time, when prices of crude oil are rising and the rupee is somewhat of a free fall, investors can’t help but wonder where it Canada Goose Jackets is headed and how much more of hit they would need to sustain on the portfolios. Dharmesh Kant Head Retail Research, IndiaNivesh Securities, believes the rupee could stabilise between 72 and 74 to the dollar in the next 6 months, but could spike to 79 80 to the dollar in the interim.
In an interview with Moneycontrol’s Kshitij Anand, Kant speaks about his view on the currency, stocks that he thinks are good bets, and about what he makes of the macro economic canada goose uk shop environment, both in India and abroad. Edited excerpts.
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Canada Goose sale A: The very fact that foreign investors have consistently been pulling money out, makes them neutral to underweight on India. In a scenario of accelerated rupee depreciation, rising interest costs and crude oil prices, foreign investors have historically stayed away from emerging markets like India. Canada Goose sale
Uncertainties on account of macro headwinds like the deteriorating fiscal deficit, higher input costs and upcoming general elections in 2019, will keep them on sidelines Canada Goose online for a while.
Q: Where do you see the rupee by the end of FY19? Some experts are even penciling a cheap Canada Goose figure of 80 to the dollar.
canadian goose jacket A: My own buy canada goose jacket cheap sense is that in the next 6 months, rupee should stabilise between 72 74/dollar. However, in between, a spike towards 79/80 may happen. canadian goose jacket
canada goose deals Q:Can you name four stocks canada goose factory sale that you think are now available at attractive valuations? canada goose deals
Canada Goose online A: Bharat Electronics, Can Fin Homes, RBL Bankand SAIL. Canada Goose online
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A: FMCG, private banks, canada goose pharmaceuticals and select PSBs.
Q:Do you think investors should go underweight on equities and look at other asset classes such as fixed income, at least for some time, till the prevalent volatility in the market dies down?
canada goose store A: I think in canada goose uk outlet present global scenario and context, bullions such as gold is likely to deliver the best absolute canada goose store returns followed by FDs (fixed deposits). Diversification has always been a prudent strategy, only one needs to keep weightage of asset allocation dynamic. canada goose store
A: Yes, I do agree. US equities are peaking out. Major indices like Dow Jones, S 500 and Russell 2000 (midand small cap) have been in the 10 year bull market.
Corporate earnings have delivered growth for the last 8 years. Now, US is entering a zone of the high base with rising interest cost, inflation and Canada Goose Parka energy prices. A dip in home sales uk canada goose and motor vehicle sales are lead indicators.
Canada Goose Jackets Historical weight of evidence suggests that inflation buy canada goose jacket above 2 percent mark for three consecutive years, rising energy prices and a higher interest rate trajectory coupled with GDP growth in excess of 2 percent for previous 3 cheap canada goose uk to 5 years, leads to depletion in corporate canada goose uk black friday earnings with a lag effect. Canada Goose Jackets
buy canada goose jacket Markets usually discount it 3 to 4 quarters in advances. The same played out in the US market crash of 2008 09. Though this time around, the US scenario is not so alarming but a slowdown in 2019 and 2020 is very much on the cards. buy canada goose jacket
Institutions canadian goose jacket like IMF have forecasted the US GDP growth to slow down to 2.5 percent in 2019 and 1.8 percent in 2020, after growing 2.9 percent in 2018.
canada goose coats They see top 14 countries, which contribute 70 percent of the world’s GDP (around $60 trillion), to decelerate in 2019and 2020,the only outlier being India. canada goose coats
canada goose Q:Do you more downside in Indian marketsor is this the time to buy? canada goose
A: Changed macros were chiefly responsible for the D Street mayhem. Higher input costs, rising cost of funds, steeper fuel prices, depreciatingrupee will hurt margins and profitability of domestic focussed companies down the line.
Canada Goose Parka Reduced spending by canada goose black friday sale the Government, deteriorating fiscal position and upcoming canada goose coats on sale general elections do not augur well. It is better to Canada Goose Outlet sit tight and observe events unfold till canada goose clearance any semblance of rupee/crude price stability or reversal is seen. Canada Goose Parka
canada goose black friday sale Q: Most analysts have complained about high valuations of Indian equities. Do you think that concern is somewhat taken care of now? canada goose black friday sale
cheap Canada Goose A: We are trading around historical averages now but canada goose coats the aforementioned concerns can derail the expected earnings growth in the 2nd half of 2019 significantly. cheap Canada Goose
buy canada goose jacket cheap Q:After the recent rate hike by the US Fed and a subsequent rise in US bond yields, most experts feel RBI could hike rates sooner than expected. What is your assessment buy canada goose jacket cheap.