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market | IST

Dollar to depreciate through 2021 leading to flows into EMs; bullish on financials: JPMorgan

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Sanjay Mookim, Strategist, Head of India Equity Research, JPMorgan India in an interview with CNBC-TV18 said, “Everybody is expecting significant dollar returns through 2021, not just in emerging markets (EMs) or in India but in global equity assets as well.”

2020 is ending on a high for the markets. Dalal Street as well as its global peers are on a bull run and scaling new heights boosted by COVID vaccine news. stimulus expectations and an overall restart positivity.
Sanjay Mookim, Strategist, Head of India Equity Research, JPMorgan India in an interview with CNBC-TV18 said, “Everybody is expecting significant dollar returns through 2021, not just in emerging markets (EMs) or in India but in global equity assets as well.”
“On an average bank are expected to buy assets of at least USD 300 million a month all through 2021 and for the last 10 years, we have seen how powerful this liquidity can be. As a result, you will not find a single bear at least on the sell-side across the world,” he mentioned.
Saurabh Kumar, Executive Director, Banking Research, JPMorgan India believes that there is excess liquidity in the market and both the banking sector and the non-banking financial companies (NBFCs) at this point is neither short on capital nor on funding.
“My personal hope is that this time around they should aid economic recovery,” he said.
For entire discussion, watch the video.