Equity Market Tips
Global risk aversion is coming; Sensex may drift lower: HSBC
Indian shares have priced in a lot of good news and have now started looking a bit expensive,says Devendra Joshi, Equity Strategist - Asia Pacific, HSBC. HSBC upgraded India shares to neutral recently but at 27,000, the Sensex is already ahead of the brokerage's 2016 target of 26,000. "Over the next few weeks, there may several events [that may be negative for equities]," Joshi said.
"There is the Fed rate hike, developments in European politics, China slowdown. We may see global risk aversion going forward. "He added that investors should position themselves in sectors where possibility of disappointment in earnings is the least.
HSBC is positive on consumer staples, IT and utilities and underweight on financials (except private banks), materials and telecom.
https://commodityupdatedtips.blogspot.in/2016/06/commodity-and-stock-market-updated-tips.html?showComment=1521106625562#c8271328281591008335
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