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HSBC downgrades Indian stocks to underweight
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.
Updated on: Sep 12, 2012, 11:16:40 IST
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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.
"The newsflow will be probably negative for the market, making investors nervous," HSBC said in a report on Wednesday.
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