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Fiscal pressures building up; risks for the markets are rising: Jefferies

As a stock strategy, they have shifted consumer staples to underweight, and moved weight (bought into) to Bharti Airtel in their model portfolio

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Jefferies Financial Group Inc (Photo: Bloomberg)

Puneet Wadhwa New Delhi

3 min read Last Updated : Sep 19 2023 | 10:56 PM IST

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Fiscal pressures for the Indian economy are gradually rising, suggested analysts at Jefferies in a recent note, as oil prices that are close to the $100 a barrel (Brent) mark continue to climb ahead of a busy election calendar.

The sharp rally in the equity markets in the last few months, they added, have made valuations expensive. As a result, Jefferies expects the Indian markets to remain choppy in the near-term.

“Nifty above 20,000 with one-year forward price-earnings (PE) of 19.3x at +1 standard deviation and 12 per cent above 10-year average; our preferred yield-gap parameter (10-yr bond

Topics : Markets Jefferies Equity markets India economy Market news Oil Prices

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