Structural bull-run in Indian stock market remains intact: Chris Wood

A ripple effect from the likely fallout of China's Evergrande and a possible change in stance by RBI are the two key risks for the market rally, says the global head of equity strategy at Jefferies

Even as local authorities in China rush to cushion the fall of Evergrande Group – their second largest property developer by sales – that can create a flutter across global financial markets, Christopher Wood, global head of equity strategy at Jefferies suggests that the structural bull-market in India remains intact. He has hiked stake in Bajaj Finance in his Asia ex-Japan long only portfolio by 1 percentage point (ppt). Wood had bought a stake in the company earlier this month.

“A broader based private sector-driven capital spending cycle, extending beyond the property sector, is now thought by Jefferies’ Indian office