Nomura downgrades India markets as risk-rewards turn unfavourable2 min read . Updated: 25 Oct 2021, 08:06 PM IST
- At stocks level, almost 77% of Indian stocks in the MSCI index are trading higher than pre-pandemic or post 2018 average valuations, compelling Nomura analysts to downgrade
Nomura has downgraded Indian markets to neutral from overweight rating due to unfavourable risk-reward given high valuations, as a number of positives appear to be priced in, while headwinds are emerging. Instead, the Japanese brokerage firm prefers China and ASEAN and will be looking for better entry points for India.
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