HSBC downgrades Indian shares to 'neutral'

Fri Aug 23, 2013 1:58pm IST

Employees walk out of the Bombay Stock Exchange (BSE) building in Mumbai August 22, 2013. REUTERS/Danish Siddiqui

Employees walk out of the Bombay Stock Exchange (BSE) building in Mumbai August 22, 2013.

Credit: Reuters/Danish Siddiqui

Related Topics

Stocks

   

Reuters Market Eye - HSBC downgrades Indian equities to "neutral" from "overweight", citing a sharp rise in the cost of equity for companies and a slowing growth.

The bank says India will continue to struggle with the trade-off between defending a currency and supporting growth.

HSBC adds the main catalyst for recent volatility in Indian equities was when policymakers decided to tighten liquidity to stem capital outflows.

J.P.Morgan also downgraded Indian shares on Tuesday to "neutral" from "overweight", citing strain in balance of payments.

(Reporting by Abhishek Vishnoi)

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

Fuelling Change

REUTERS SHOWCASE

Quarterly Results

Quarterly Results

HDFC Bank net profit up 20 percent, lags estimates.  Full Article 

China Economy

China Economy

China's growth slowest since global crisis, annual target at risk  Full Article 

Coal Reforms

Coal Reforms

Factbox - India pushes ahead with coal reforms  Full Article 

Apple Result

Apple Result

Apple's iPhone sales beat Street but iPad volumes slide  Full Article 

Airport Accident

Airport Accident

Total CEO de Margerie killed in Moscow plane accident - airport spokeswoman.  Full Article 

Nadella's Paycheck

Nadella's Paycheck

New Microsoft CEO Nadella's pay tops $80 mln with big stock awards.  Full Article 

Deregulation Impact

Deregulation Impact

Private fuel retailers to dip toe, not dive back, into India  Full Article 

JLR China

JLR China

JLR sees 20 percent growth in China sales this year - exec  Full Article 

An RBI First

An RBI First

RBI releases minutes of financial stability council's Aug meet  Full Article 

Reuters India Mobile

Reuters India Mobile

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