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Search resuls for: "Surendra Goyal"


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Historically, a rate cut has been a signal for central banks in emerging markets, like India, to follow by easing monetary policy in their regions. The latest data shows that the inflation rate appears to be heading in the wrong direction in India. The headline inflation rate rose in August to 3.65% compared to 3.6% in the previous month. Instead, markets have simply hit snooze on a rate cut by the Reserve Bank of India for the moment. If there's no global recession, a risk-on sentiment will likely help push up emerging market equities in the medium term after the U.S. central bank cuts rates.
Persons: Shah, Mahesh Nandurkar, Surendra Goyal, CNBC's, BofA, Banks Organizations: Federal, Reserve Bank of India, Reserve Bank, Capital Economics, India, greenback, Federal Reserve, Jefferies, Bank of America, Citi, India Research, Bank Locations: India, U.S
India has been dubbed the "perfect" emerging market to invest in, but it can be tricky for those outside the country to gain access. India's stock market has been making headlines this year, and for good reason. "India remains one of the best-performing equity markets this year, underpinned by the world's fastest-growing major economy and a resilient macro backdrop," said James Thom, senior investment director Asian equities at Abrdn, in a note to clients. Some of the top ETFs in North America include the Columbia India Consumer ETF , the First Trust India NIFTY 50 Equal Weight ETF and the BMO MSCI India ESG Leaders Index ETF . In Europe, the list includes the iShares MSCI India UCITS ETF , which provides exposure to around 85% of the stock market, and the Xtrackers MSCI India Swap UCITS ETF Capitalisation 1C .
Persons: Krishnamurthy Subramanian, Narendra Modi's, Kevin T, Carter, Goldman Sachs, James Thom, aren't, GDRs, Arjun Jayaraman, there's, Jayaraman, Abrdn's Thom, Surendra Goyal, Thom, EMQQ Global's Carter, Modi's, it's, Jonathan Pines, — CNBC's Ganesh Rao, Tuul, Bruno Morandi Organizations: CNBC Pro, IMF, Bharatiya Janata Party, EMQQ, CNBC, Wealthmills Securities, Global, Causeway, Mutual, Columbia India Consumer ETF, First Trust India, BMO, India, Nasdaq, Investors, Nokia, Bank of America, Citi, Edge, Reliance Industries, U.S ., Bank of India, Network18, Bank, Getty Locations: India, China, North America, Europe, Singapore, U.S, Indian, Chhatrapati Shivaji Terminus, Mumbai
Citigroup analysts upgraded India to "overweight" from "neutral" in their emerging markets allocation on Friday, citing strong earnings and economic growth momentum. It also attributed India's one-year forward price-to-earnings (P/E) of 20x, which is slightly higher than the long-term averages, to a stable earnings trajectory. The brokerage remains "overweight" on India's banks, insurers, public sector enterprises, autos and capital goods companies among others. Citi downgraded China to "neutral" from "overweight", saying the recent rally in its stock markets occurred despite weakening fundamentals. Citi reiterated its "overweight" rating on Taiwan and Korea, maintaining "underweight" on Latin American countries.
Persons: Surendra Goyal Organizations: Hong, Citigroup, Citi, Jefferies, Asia Locations: India, China, Asia Pacific, Japan, Taiwan, Korea
IT Services" on Sept. 28, Citi analysts said banks are poised to outperform the information technology services sector over the next 12 months. "We thus believe Indian banks will not be directly impacted by an uncertain global growth or global higher-for-longer policy rate cycles." The bank's analysts expect private sector banks to continue gaining market share from public sector banks. However, Citi noted increasing competitive pressures from smaller firms vying for deals in the IT services sector. The Citi analysts also said that banks are trading close to historical averages on a price-to-book basis.
Persons: Surendra Goyal, , Joanna Tan Organizations: Citi, ICICI Bank, IndusInd Bank, IT, New York Stock Exchange, IT Services Locations: India
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