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Good time to buy Indian equities; like energy stocks: UBS

Geoff Dennis, head of global EM strategy, UBS is bullish on the energy sector and says he would rather buy energy than consumer staples in India

Closing Bell

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The strong dollar has been a concern for emerging markets, says Geoff Dennis, head of global EM strategy, UBS. Claiming that a US Federal Reserve rate hike is already priced in, he says 2016 will be a difficult year but will not be as bad as 2015. He believes Fed will most probably raise rates in December.

According to him, it is a good time to invest in Indian equities as fundamentally it is much stronger than other EMs. He is bullish on the energy sector and says he would rather buy energy than consumer staples in India. He also likes IT stocks and feels metals may see more pain.

Dennis believes EM underperformance has already played out.

More to follow…

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