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Markets | Buy Indian stocks, sell govt bonds: SocGen

Markets | Buy Indian stocks, sell govt bonds: SocGen
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First Published: Thu, May 07 2009. 11 41 PM IST
Updated: Thu, May 07 2009. 11 41 PM IST
Singapore: India’s bond rally is ending as the central bank stops cutting interest rates and the government steps up debt sales to fund its budget deficit, Société Générale SA (SocGen) said.
Indian equities now represent a better investment given the Reserve Bank of India has limited room to reduce borrowing costs further and global funds and overseas Indians are returning to the stock market, said Balakrishnan Kunnambath, head of the Indian subcontinent region at SG Private Banking, SocGen’s wealth management unit.
It’s time to slowly start moving out of Indian debt, Kunnambath said in an interview in Singapore on Wednesday. There’s no point in going in now as rate cuts are limited.
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First Published: Thu, May 07 2009. 11 41 PM IST
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