JP Morgan downgrades Indian shares; Citi lowers Sensex target

MUMBAI Tue Aug 20, 2013 12:32pm IST

A broker looks at a terminal while trading at a stock brokerage firm in Mumbai October 6, 2008. REUTERS/Arko Datta/Files

A broker looks at a terminal while trading at a stock brokerage firm in Mumbai October 6, 2008.

Credit: Reuters/Arko Datta/Files

Stocks

   

MUMBAI (Reuters) - J.P.Morgan has downgraded Indian shares to "neutral" from "overweight", citing strain in balance of payments, while upgrading China shares to "neutral" from "underweight".

The brokerage adds it is late in downgrading India, but if the rupee continues to slide it would continue to underperform.

Citi also lowered its target for the BSE Sensex to 18,900 from 20,800, citing increasing uncertainty after the rupee's slide despite Reserve Bank of India's measures since mid-July.

(Reporting by Abhishek Vishnoi; Editing by Prateek Chatterjee)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Global Growth

Global Growth

IMF cuts outlook, warns of stagnation risk in rich nations  Full Article 

Waning Enthusiasm

Waning Enthusiasm

Markets' post-election enthusiasm lost on consumers.  Full Article 

Monsoon Revives

Monsoon Revives

Monsoon revival keeps rain above average   Full Article 

Banking Sector

Banking Sector

Banks not allowed to trade in bonds for infra lending - RBI.  Full Article 

Just Not Enough

Just Not Enough

Amazon's smartphone fails to kindle a "Fire" among reviewers.  Full Article 

Rising Market Value

Rising Market Value

Facebook goes express to mega-cap status  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage