Jefferies’ global equity strategist Christopher Wood has said that Pakistan’s ongoing equity rally reflects a high-beta, IMF-driven trading opportunity rather than a structural shift, while maintaining that India remains his core long-term investment bet, backed by stronger fundamentals and improving valuations.In his latest GREED & fear newsletter, the India bull
Jefferies’ global equity strategist Christopher Wood has said that Pakistan’s ongoing equity rally reflects a high-beta, IMF-driven trading opportunity rather than a structural shift, while maintaining that India remains his core long-term investment bet, backed by stronger fundamentals and improving valuations.In his latest GREED & fear newsletter, the India bull said Pakistan’s market offers opportunities around bailout cycles, but reiterated that India remains the region’s stronger long-term investment story.These bailout phases, he said, often open up “powerful trading windows” when sentiment shifts from distress to stabilisation.Using the most recent IMF programme agreed in September 2024 as an example, Wood highlighted that the MSCI Pakistan Index has surged 84% in US dollar terms since then. Over the same period, Pakistan has outperformed MSCI India by 124 percentage points in dollar returns.He cautioned, however, that
