Mumbai, Aug 18
US broking firm Jefferies has recommended its clients to purchase Indian stocks rather than sell them, as US President Donald Trump's tariff policies are bound to take a U-turn, a report said on Monday.
In the report by Jefferies, Christopher Wood, a leading analyst at the US broking firm, suggested that its clients consider investing in India owing to the current global market environment and the possibility that Trump will eventually change his stance, which is not in America's interest.
"It is only a matter of time before Trump backs off the stance, which is not in America's interest... On this point, it is worth noting that the track record makes it clear that it pays to stand up to the Donald," Wood said.
Wood stated that Trump's actions against major economies could drive the BRICS nations -- Brazil, Russia, India, China, and South Africa -- toward de-dollarisation.
De-dollarisation is a situation where countries use a non-dollar currency for transactions instead of the US dollar.