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HSBC downgrades India to 'underweight' as oil clouds outlook

HSBC has downgraded Indian stocks to underweight. Rising energy prices from the Middle East war are a concern. This could impact India's earnings recovery. The market now looks less attractive compared to North East Asian peers. Foreign investors have been selling Indian stocks. Opportunities exist in select sectors like private banks, base metals, and healthcare.

23 Apr 2026 9:54 am