Where to invest as markets overcome tariff fears? Analysts weigh in
From Ridham Desai of Morgan Stanley, Wei Li, Global Chief Investment Strategist, BlackRock Inv. Institute and Shridatta Bhandwaldar of Canara Robeco MF, here is the market strategy of leading analysts
Shine Jacob
Indian stock markets continue to trade firm on Wednesday with the Sensex and the Nifty 50 recovering fully from the April 2 tariff imposition by US President Donald Trump. The surge comes on the back of 90-day pause by the US administration on the imposition of these tariffs.
Are the markets completely out of the woods? Is it a good strategy to diversify into international markets? If so, which ones?
Is this a 'sell on a rise market', or should investors buy the dips? Which sectors and stocks are a must for your portfolio, and which ones should be avoided?
The market is transitioning from one driven by macro conditions to one where stock-picking is likely to add alpha. We are capitalisation-agnostic following recent developments, cutting back on our preference for small and mid-caps over large caps.
While the bias remains to buy domestic sectors with a cyclical bias, both overweight and underweight positions stand reduced. The Reserve Bank of India (RBI) has policy space to act to support domestic growth, whereas external-facing sectors could go through multiple months of uncertainty.
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The Print
30 minutes ago
- The Print
In meetings with world leaders, all-party delegations convey India's policy of zero-tolerance towards terrorism
'We can talk to them in Hindustani. We can talk to them in Punjabi. We can talk to them in English. There is no problem in finding common ground with Pakistan. The problem is finding a common vision for decency, for peace. We want to be left in peace, to grow and develop. They don't want to leave us alone. They want to harass us,' he said. 'You (Pakistan) crack down on this infrastructure of terrorism that is visible everywhere in your country. Then, of course, we can talk,' Congress MP Shashi Tharoor, who is leading an all-party delegation to Brazil, said while talking to PTI Videos. Brasilia/Brussels/Cairo, Jun 3 (PTI) All-party parliamentary delegations on Tuesday effectively communicated India's firm message of zero tolerance towards terrorism to several countries, stressing that New Delhi can talk to Islamabad if it takes significant action against the terror infrastructure that is visible everywhere in the country. 'They want to cut us this whole bleeding to death India by 1,000 cuts. They're not going to bleed to death so easily. Better forget that idea,' he added. Asked whether nations have been recognising India's stance against terrorism, Tharoor said his delegation has been to four nations — Guyana, Panama, Colombia and Brazil- so far and 'this has been very clear in all the countries we've been to'. 'I would say in all four countries, we've had a very, clear success, if that's the word, I don't like to boast of success. That's for others to judge. But we have got our message through very clearly, including to those who may have had some misunderstandings,' he said, referring to Colombia. Earlier, Tharoor said Colombia withdrew a statement offering condolences to Pakistan for the loss of lives following Indian strikes in response to the Pahalgam attack after his delegation explained Islamabad's relentless support to cross-border terrorism. The delegation held a highly productive meeting with Senator Nelsinho Trad, President of the India-Brazil Friendship Front and President of the Senate Foreign Affairs Committee. It also called on Amb Celso Amorim, Head Adviser of the Special Advisory to the President of Brazil, and discussed India's position of zero tolerance to terrorism. In London, the delegation led by BJP MP Ravi Shankar Prasad concluded its high-level engagements, meeting with UK government ministers, parliamentarians, party leaders, think tanks, and India friendship groups. The delegation received wide-ranging support, reaffirming shared commitments to global security, justice, and strategic partnership, the High Commission of India in London said in a release. The delegation met Lord Dominic Johnson of Lainston CBE, Co-Chair of the Conservative Party, and Koolesh Shah, Co-Chair of the Conservative Friends of India. 'They voiced strong support for India's fight against terrorism, acknowledged its global implications, and lauded the Indian diaspora's contribution to the UK,' it said. The delegation also met Labour Party India Friendship Groups-including Labour Friends of India, Labour Convention of Indian Organisations, Sikhs for Labour, and Hindus for Labour. The groups expressed unified support for India's anti-terrorism efforts, emphasising the need to dismantle terror infrastructure and curb terror financing. From London, the delegation will travel to Brussels where it will have interactions at the European Union level and with Belgian authorities. In Cairo, Egyptian Foreign Minister Badr Abdelatty Tuesday reiterated his country's solidarity with India in its fight against terrorism and welcomed deeper bilateral cooperation on counter-terrorism during a meeting with the all-party Indian delegation led by NCP (SP) MP Supriya Sule. The delegation, which is here on the last leg of its four-nation trip, also met Arab League Secretary-General Ahmed Aboul Gheit and discussed India's wide-ranging political, economic and cultural engagement with the 22-member bloc. 'Countering terrorism is a priority to both @arableague_gs and India. The delegation underscored India's unified stance and collective determination to combat terrorism,' the Embassy of India in Egypt said in a post on X. Another all-party delegation, led by DMK MP Kanimozhi Karunanidhi, concluded its three-day visit to Spain, where it held a series of meetings with officials and civil society representatives to highlight India's 'zero-tolerance' stance against terrorism. 'The delegation concluded its visit having effectively communicated India's strategic approach and firm message of zero tolerance towards terrorism to Spanish government leaders, lawmakers, civil society and the Indian diaspora, strengthening bilateral ties and mutual understanding,' the Embassy of India in Madrid said Tuesday. In Kuala Lumpur, Malaysia on Tuesday reaffirmed its commitment to peace as it thanked an all-party Indian delegation, led by JD(U) MP Sanjay Kumar Jha, for the briefing on New Delhi's approach to combating terrorism. The delegation met Malaysian leaders and briefed them on India's unwavering policy of zero tolerance towards terrorism, and sought their cooperation in the collective fight against terrorism, the High Commission of India here said in a post on X. The all-party delegation, led by Shiv Sena MP Shrikant Eknath Shinde, concluded a successful three-day visit to Liberia, with both sides reaffirming their commitment to work together in fostering a peaceful, secure, and terror-free world. The all-party group was in Monrovia in the final leg of its four-nation visit to the United Arab Emirates, DR Congo, Sierra Leone, and Liberia. 'The visit not only reflected the enduring friendship between India and Liberia, but also highlighted the two nations' shared, unwavering stance against terrorism. It concluded with both sides reaffirming their commitment to work together in fostering a peaceful, secure, and terror-free world,' the Indian Embassy here said in a release. Tensions between India and Pakistan escalated after the Pahalgam terror attack, with India carrying out precision strikes on terror infrastructure in Pakistan and Pakistan-occupied Kashmir in the early hours of May 7. Pakistan attempted to attack Indian military bases on May 8, 9, and 10. The Indian side responded strongly to the Pakistani actions. The on-ground hostilities ended with an understanding of stopping the military actions following talks between the directors general of military operations of both sides on May 10. PTI GRS/SCY/NSA ZH This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Indian Express
31 minutes ago
- Indian Express
All India-Abu Dhabi traffic rights exhausted, time for aviation authorities to explore expansion of bilaterals, says Etihad CEO
The emirate of Abu Dhabi could be the next Gulf territory to approach India seeking an expansion of the bilateral air services agreement as existing traffic rights have been exhausted by Abu Dhabi-based Etihad as well as India's airlines. According to Antonoaldo Neves, the Group Chief Executive Officer of Etihad Aviation Group, it is time for aviation authorities of India and Abu Dhabi to initiate discussions on expanding traffic rights, also called bilaterals in aviation parlance. While almost all major Indian airlines fly to Abu Dhabi and share the 50,000 seats per week per direction of the traffic rights among themselves, Etihad is the only carrier from the emirate and accounts for all the 50,000 seats in Abu Dhabi's quota. Till one-and-half years ago, both Eithad and Indian airlines had room available to add seats on India-Abu Dhabi routes. In fact, Indian carriers were together utilising just about 30 per cent of the seat quota at the time, while Etihad was using around 50 per cent, Neves said. But within the last one year, both sides have fully exhausted their respective traffic rights. Currently, there is no discussion between India and Abu Dhabi on expansion of bilaterals. 'We have about 170 flights per week. About one-and-a-half years ago, we were using only half of the bilaterals, but now we're using all the traffic rights, and India too. IndiGo added a lot (of flights), and Akasa (Air) added some. IndiGo now is actually flying from 13 cities into Abu Dhabi…I think now we have all the conditions for starting a discussion again about traffic rights, because it's going to be good for the Indian carriers as well as us,' Neves said. The exhaustion of India-Abu Dhabi traffic rights comes at a time when another UAE carrier Emirates has been urging India to increase seats under the India-Dubai bilateral air services agreement beyond the limit of around 66,000 seats per week per direction, but the Indian government appears to be unwilling to lend an ear. Unlike air services agreements with most countries, India's bilaterals with the UAE are emirate-specific. The Indian government and major Indian carriers like Air India and IndiGo have ambitions to have more direct international connectivity from India and to turn the country into an international aviation hub. A significant number of passengers flying to far-off destinations from India take connecting flights through major global hubs outside the country, Dubai and Doha for instance. India wants its carriers to ramp up wide-body operations, instead of facilitating foreign airlines, particularly Gulf-based carriers with deep pockets, in ferrying passengers—transfer traffic from India—to Europe and beyond via their large hubs. Put simply, increasing seats under bilateral pacts does not sit well with India's grand aviation ambitions. Neves, however, said that the concern that large Gulf carriers like Etihad are taking away a lot of transfer traffic from India was unfounded, and that airlines price seats on the basis of demand and their network. He said that the demand is significant enough to accommodate transfer traffic as well as point-to-point traffic. 'The discussion that people always bring is this is transfer traffic and that is point-to-point. I could argue differently and I could say that I would love to get the point-to-point (traffic) that IndiGo is getting to Abu Dhabi…The flipside of that equation is, if I'm doing only transfer (traffic), I'm giving to IndiGo all the point-to-point traffic. My point is that the discussion about point-to-point versus transfer is just a silly discussion. We don't price like that, we price to demand,' Neves said. Neves also argued that being restrictive on seat quotas amid growing demand was not in the interest of Indian consumers. 'If you regulate, it's the start of the end. Because if you regulate, you go back to the old days where fares were controlled. India today has 200 million passengers because fares are not controlled anymore, that's the only reason. Every time you try to put artificial controls, the market doesn't grow,' he said. While acknowledging that Etihad and possibly even Indian carriers may not have the aircraft capacity currently to add additional seats between India and Abu Dhabi, Neves said that they will have more aircraft in the coming years, and the time is apt for discussions on bilaterals to start. 'I think it should be done at the right time, at the right pace. My load factor today is 88 per cent. If I get more seats in India today, first, I need to cancel other flights to bring the planes here. I don't want to do that…So, my point is it needs to go step by step, so we're not in a hurry, but I think we need a dialogue… Of course, I understand that nobody wants to give 10 times more seats tomorrow. And that's understandable, but there's got to be a staggered approach that is good for everyone. It's impossible that there is none,' Neves said.
Hans India
33 minutes ago
- Hans India
Guv Kambhampati suggests Odisha-Da Nang partnership during Vietnam visit
Bhubaneswar: Odisha Governor Hari Babu Kambhampati, who led a delegation to Vietnam to bring sacred relics of Lord Buddha back to India, proposed exploring province-level ties between Odisha and Da Nang city in Vietnam, as per an official statement released on Tuesday. The proposal was made during his meeting with H.E. Le Trung Chinh, Chairman of the Da Nang People's Committee. The Governor said Odisha is a state with a rich history, strong cultural traditions, and fast economic growth. 'We also have many important Buddhist sites. If Da Nang is interested, we can explore building ties between our two regions,' he added. Kambhampati praised Da Nang as a beautiful and historic city, making huge progress. 'Da Nang has a vision to become a major port, a centre for high technology, finance, and tourism,' the Governor said. He added that Da Nang's location as a vibrant coastal city in central Vietnam makes it important for economic and trade cooperation between India and Vietnam. The Governor thanked the Vietnamese government and the people of Da Nang for their warm hospitality and the excellent arrangements made for the sacred relics of Lord Buddha, which received an overwhelming response from the local population. 'These relics are accorded the highest protocol by the Government of India, and I have personally travelled to accompany them back,' he said. Governor Kambhampati said that Buddhism has been a strong link between India and Vietnam for nearly 1,800 years. He said India values its Buddhist heritage and is working hard to protect and promote Buddhist sites. He also spoke about the growing partnership between India and Vietnam. He mentioned the visit of the Vietnamese Prime Minister to India last year and a meeting between the Indian Prime Minister and Vietnam's President and Party General Secretary To Lam in New York in 2024, which helped strengthen ties. The Governor said cooperation between the two countries is expanding in areas like trade, defence, tourism, health, digital economy, education, and sustainable development. He praised Da Nang's support in working with the Indian Embassy to promote yoga, cultural exchange, and academic ties. He also noted that more direct flights between the two countries have helped improve people-to-people contact. Kambhampati also shared his experience of visiting the UNESCO World Heritage Site at My Son in central Vietnam. He appreciated the work of the Indian archaeological team restoring ancient temples and said the project is a strong symbol of the close historical and cultural connection between India and Vietnam.
