HSBC ‘overweight’ on India on improving economy

NEW DELHI: Global brokerage firm HSBC on Tuesday upgraded India to the ‘overweight’ status, citing improving domestic indicators and realistic earnings expectations.

Published on: Jul 5, 2016, 07:45:27 IST

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NEW DELHI: Global brokerage firm HSBC on Tuesday upgraded India to the ‘overweight’ status, citing improving domestic indicators and realistic earnings expectations. It also raised Sensex target for 2016-end to 28,500 from 26,000. “India is a relatively defensive market (least driven by global factors) in an increasingly uncertain investment world,” HSBC said.

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