Indian fund managers focused on defensive stocks in April. Pharmaceuticals saw increased investment due to opportunities like the semaglutide patent expiry. NBFCs and asset management companies also received attention. PNB Housing Finance was added as funds shifted towards retail lending. This strategy reflects concerns over oil prices and West Asian geopolitical tensions.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend