Animal spirits? Chris Wood surprised by resilience of Indian stock market

Further evidence of economic resilience and animal spirits, according to Wood, is continuing strong goods and services tax (GST) revenues and buoyant retail sales

Christopher Wood, global head of equity strategy at Jefferies who expected calendar year 2022 (CY22) to be a period of consolidation for the Indian stock markets after the strong gains in 2021, is surprised by its resilience in the backdrop of a monetary tightening cycle by the central banks.

“From a stock market standpoint, GREED & fear has been viewing calendar 2022 as a year of consolidation for the Indian stock market after the strong gains recorded last year and the negative of