Global funds are beginning to pay more attention to India: Chris Wood

Global funds, according to Christopher Wood, global head of equity strategy at Jefferies, are now beginning to pay more attention to India with the market now offering 30 companies with a market capitalisation over $25 billion.

As a result, Wood said, many global funds are now applying for registration as Foreign Portfolio Investors (FPIs) to invest directly in India, which, he believes, is not always as straightforward an exercise as it could be.

Meanwhile, any correction in the Indian stock markets should be used to buy property, banks and industrial stocks, he advised in his latest weekly note to investors,