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2026-07-16 14:58:12
[HSBC Upgrades Indian Stocks to Neutral, Oil Price Risks Subside and Domestic Demand Remains Strong] (1) HSBC Holdings upgraded its rating on Indian stocks from “underweight” to “neutral”, citing reasons including the significant reduction in the risk to corporate earnings posed by oil prices and strong domestic consumption. (2) The strategist team pointed out that the macroeconomic background has improved significantly in recent weeks, and the oil price shock has subsided quickly, making India a good way to gain exposure to domestic demand-driven growth; HSBC had previously downgraded its rating in April due to inflation concerns caused by the Iran war, but now it has taken the lead in upgrading. (3) Global funds have begun to net buy Indian stocks after a record sell-off; HSBC also raised its year-end target price for the Sensex index from 80,500 points to 84,000 points, implying an upside of about 8.8% from Wednesday's closing price.
