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Ways how U.S Fed can impact India10
Impact on Indian equity markets As far as markets are concerned, the major uncertainty has gone by and the focus will now shift to
the fundamentals of India, going ahead. While the EM space, as a whole, may look less attractive
v/s the US economy, India is likely to stand out. The reasons for the same are as following :
Higher growth rates of the economy
#1
Weakening inflation
#2
Positive impact of lower cruse and other commodity prices
#3
A reforms-oriented Government.
#4
On earnings, the low base of FY16 (expected growth of about 5% in Nifty
earnings in FY16) will provide a good base effect in FY17 and hence,
growth rates in FY17 are expected to look better. Reforms of the past few
quarters will percolate down to the ground level for several sectors and
will help earnings growth.
#5
The US dependent sectors like IT and Pharma should do well because of
stable demand and a weaker rupee.
#6SECTOR IMPACT -
Government spend will continue to remain high, we believe and hence,
sectors like Road EPC, Railways, Defence, Mining Equipment, etc should
do well
#7
Some equipment companies in capital goods sector will also do well, we
believe.
#8
We expect interest rates to come off in FY17 and the asset quality to have
bottomed out. Thus, we feel Private Sector banks and NBFCs are a better
bet at these levels.
#9
Auto numbers should be better in FY17 and stocks in that sector should
out-perform next year.
#10
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