Chris Wood bullish on Indian equities despite runaway rally since March low

For the market to have a real nasty unwind at the global level, Wood believes there needs to be a catalyst in the form of an economic downturn or a material tightening in US Fed policy

Despite the runaway market rally since March 2020 that saw the S&P BSE Sensex hit the 50,000 mark for the first time ever, Christopher Wood, global head of equity strategy at Jefferies has maintained a bullish view on Indian equities for 2021.

"GREED & fear still likes the Indian stock market this year. The key reason is the scale of the cyclical recovery in the coming fiscal year as a result of the dramatic collapse in growth in the second quarter of last calendar year when real gross domestic product (GDP) declined by 23.9 per cent YoY," Wood wrote in