CLSA tweaks India portfolio, fears de-rating in expensive capex stocks

June 5, 2024

CLSA adjusts India portfolio post BJP’s election setback, favoring defensive stance with HCL Tech replacing L&T. Overweight on banks, commodities, IT, insurance, and staples. Concerns over market valuation amid Nifty’s 6% drop and historic high PE ratio.

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US stocks: S&P, Nasdaq end over 1% higher as AI-fueled optimism weighs

CoreWeave reported strong earnings, easing investor concerns about spending on AI infrastructure and boosting stock prices. Both the S&P 500 and Nasdaq witnessed gains following

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Michael Burry calls Nvidia ‘heck of a trade’ after Huang’s scandal sparks $430 bn selloff. Why is Big Short fame dismissing fears?

Michael Burry sees a near-term trading opportunity in Nvidia despite his broader concerns about AI valuations. The Big Short investor believes Jensen Huang’s personal controversy

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