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HindustanTimes Thu,24 Apr 2014

HSBC downgrades Indian stocks to underweight

Reuters  Mumbai, September 12, 2012
First Published: 11:14 IST(12/9/2012) | Last Updated: 11:16 IST(12/9/2012)

HSBC downgraded Indian stocks to "underweight" from "neutral", saying the debt crisis in Europe would be a drag on global equities, while at home, the country has seen no progress on fiscal consolidation or structural reforms.

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"The newsflow will be probably negative for the market, making investors nervous," HSBC said in a report on Wednesday.

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