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The Economic Times
The Economic Times
Nikhil Agarwal

How Jefferies is reshuffling its portfolio as soaring bond yields give Nifty bulls sleepless nights

Jefferies Kotak Mahindra Bank Reliance Industries India United States MSCI India Nikhil Agarwal RBI Inflation SEBI

As the Indian stock market faces pressure from rising bond yields, global investment bank Jefferies sees an opportunity emerging beneath the broader market weakness in largecap stocks, where valuations have fallen below historical averages, and the earnings gap with midcaps is expected to narrow.

Ahead of the Q2 earnings season, Jefferies has added Kotak Mahindra Bank to its model portfolio, increased weight on heavyweight Reliance Industries (RIL) to overweight and trimmed exposure to NBFCs, real estate and consumer discretionary stocks.

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