MARKET EYE-Citi cuts India to 'underweight', fears disappointment

Thu Jan 10, 2013 3:21pm IST

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* Citigroup downgrades India to "underweight" from "neutral", as
part of its emerging markets review, saying a rebound in
economic growth, corporate risk appetite and the investment
cycle may not be as strong as current expectations.
 
* Citigroup adds the "ongoing political battles and the upcoming
2014 elections may make this year noisy."
* However, more government reform action, along with easing
inflation and falling interest rates should support equities,
added the bank.
* Citi says Indian shares can at best rise 7 percent more from
present levels.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
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