Chris Wood

Indian equities are struggling in 2025 with significant foreign selling and stretched valuations. Despite this, domestic inflows have prevented deeper losses. Jefferies forecasts improvement in India's macro outlook, but warns of risks from political giveaways and valuation vulnerabilities.

Gold price is currently trading around $4,012/oz, and Chris Wood believes a correction of about 16% could create an attractive buying opportunity, aligning with the 200-day moving average of $3,371/oz.

Christopher Wood of Jefferies has added Ambuja Cements, Ixigo, and Lemon Tree Hotels, each with a 4% weighting. Reliance Industries and Axis Bank were removed, and the weights of ICICI Bank, REC, and JSW Energy were reduced by one percentage point.

In his latest GREED & fear report, Chris Wood has suggested that gold prices could climb as high as $6,600 per ounce in the long term, based on historical benchmarks and the growth in US disposable income per capita.

While IT services firms continue to make conceptual sense for long-term portfolios, Wood flagged key risks weighing on the sector. “For some Asian countries, 50% tariffs would be a total disaster,” he said', adding that global software also faces structural disruption from artificial intelligence.

Christopher Wood of Jefferies warns that the belief in the TACO trade's safety is waning as tariff threats could have significant macroeconomic impacts. Investors are underestimating the risks associated with escalating trade tensions, which could lead to a market correction.

In his latest report, Chris Wood discusses reduced U.S.-China tariffs and the potential for India to gain from a shift in global trade dynamics. The analysis suggests a long-term decline in U.S. market dominance, positioning India as a favorable destination for capital and manufacturing.

Jefferies' Chris Wood has increased India's allocation in their Asia Pacific portfolio, citing its potential as a macroeconomic safe haven amid global financial turbulence. This move reflects confidence in India's resilience, aided by low trade dependence and declining oil prices.

In his GREED & fear note, Christopher Wood cautions about a looming market crash driven by passive investing and trade tensions. He criticizes the current US economic leadership and emphasizes the need for diversified investments amid rising volatility and uncertain policies.

Christopher Wood of Jefferies has reshuffled his portfolios, increasing investments in Indian real estate and online travel stocks while reducing stakes in US equities. He shows confidence in India's growth, particularly in the digital economy.