Lighthouse Canton sees global bond yield repricing as temporary “air pocket” for Indian equities
INDA•Banks, pharma and hospitals favored
Indian banks were highlighted as a buy, with Nifty Bank below five-year median multiples, strong asset quality, high capital, and strong provisioning.
Pharma and listed hospitals were also favored, with domestic pharma up 10.7% y/y in August 2026, supported by chronic-care demand.
India seen as better positioned than 2013
India was seen as better positioned than 2013, citing an FCNR window that drew over USD 125 billion, backed by about USD 700 billion reserves.
Equity impact was framed as an “air pocket,” with a recommended shift up the quality curve toward earnings resilience during higher-rate volatility.
Global bond yields seen lifting discount rates
Lighthouse Canton flagged a global repricing of sovereign duration, with the U.S. 10-year near 5%, lifting discount rates across risk assets.
