Fed‘s trimming of growth forecast has led to a reversal in view once again with focus shifting to emerging markets, away from the developed markets. Sunil Garg, managing director of JPMorgan Securities sees the rupee going below 60 per USD in the near-term.
During the Iraq war, interest rates were falling and the markets rebounded almost as soon as the war started. As far as India goes, Sunil Garg feels rupee right now is undervalued. But rising oil prices and risks to portfolio outflows could lead to further depreciation.
A lack of action from the Bank of Japan may not be what the markets want, but some analysts argue that a consistent central bank is exactly what the markets need right now.
JPMorgan Securities‘ Sunil Garg feels PSU banks definitely look attractive along with the NBFCs. He sees easing some asset quality pressure going ahead.
Sunil Garg of JPMorgan Securities, in an interview to CNBC-TV18, presents a positive outlook for the Indian market for the latter half of this year. He also added that the depriciating rupee was a concern.
The Bank of Japan is set on Tuesday to unveil its most determined effort yet to beat years of economic stagnation, but the big challenge will be how to impress markets already pricing in a doubling of its inflation target and further asset buying.
JPMorgan Securities downgraded online game company Zynga Inc to 'neutral' from 'overweight'.
Even though the US saw two big events last night, Sunil Garg of JPMorgan Securities believes that the situation in Europe is more worrying.