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

Shares Hit Record

Sensex, Nifty rise to second consecutive record high

Sensex surges 500 points on BOJ easing, L&T gains

The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro.  Full Article 

REUTERS SHOWCASE

Indian Economy

Indian Economy

India's fiscal deficit in H1 almost 83 pct of full-year target.  Full Article 

M&M Earnings

M&M Earnings

M&M Q2 net profit down 4 percent, hit by poor monsoon.  Full Article 

Ban on E-Cigs?

Ban on E-Cigs?

Govt considers ban on e-cigarettes, sale of single smokes.  Full Article 

Commodities

Commodities

Silver futures in India hit four-year low on global cues.  Full Article 

BOJ Policy

BOJ Policy

BOJ shocks markets with surprise easing as inflation slows.  Full Article 

Shadow Banking

Shadow Banking

China's shadow banking sector growing rapidly, third largest in world - FSB.  Full Article 

Reuters India Mobile

Reuters India Mobile

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