Equity Outlook - Diwali Samvat 2076
Taking the right turns to navigate the growth slowdown
SOUND BALANCE SHEETS, HEALTHY CASH FLOWS, AND ESG
Macro uncertainty likely to persist as we head into the US
presidential elections in 2020: Global macros are likely to remain
volatile given that two of the largest global economies are still at
loggerheads over trade pacts. With the US heading into a crucial
presidential election year in 2020, political rhetoric could take centre
stage. This is bound to keep global growth fairly tepid – IMF predicts it at
3% (the lowest since the financial crisis a decade ago).
Middle East geopolitics remains volatile and unpredictable: Given
the heightened state of political tensions in the Middle East, any untoward
development could disturb the current demand-supply scenario for crude
oil and consequently oil prices. Any resolution of these issues augurs well
for large oil importing economies like India.
Climate agreements and ESG themes to pick up pace: Rising
awareness about climate change and ESG amongst global institutional
investors could become more of a norm. Any company that can embrace
these changes is likely to benefit in the long term.
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