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HomeMarket NewsJPMorgan downgrades Indian equities to 'neutral', cuts Nifty 50 target; Details here
JPMorgan has cited elevated valuations relative to emerging market peers, earnings risks, dilution concerns, and limited exposure to next-gen tech as the key factors behind the downgrade.
Brokerage firm JPMorgan has downgraded Indian equities to "neutral" from its earlier rating of "overweight" and has also cut its price target on the Nifty 50 index across scenarios.
In turn, JPMorgan has upgraded tech and Taiwan to "overweight" and raised its targets for the TAIEX index. JPMorgan's downgrade comes just a day after HSBC downgraded India to "underweight", marking its second downgrade in less than a month.
For the Nifty 50, JPMorgan has cut its bull case price target to 30,000 from 33,000 earlier. The base case target, which earlier was 30,000 has been cut to 27,000, while the bear case price target for the benchmark index to 20,500 from 24,000 earlier.
JPMorgan has cited elevated valuations relative to emerging market peers, earnings risks, dilution concerns, and limited exposure to next-gen tech as the key factors behind the downgrade.
This is breaking news and will be updated with more details.
