HSBC downgrades Indian equities to ‘Neutral’; revises Sensex target for 2025 end
Analysts at HSBC downgraded Indian equities to 'Neutral' from 'Overweight’.
Analysts at HSBC downgraded Indian equities to 'Neutral' from 'Overweight’.
Market witnessed on Wednesday sharp rebound amid buying in heavyweights and IT, oil and gas, FMCG stocks.
At close, the Sensex was up 234.12 points or 0.30% at 78,199.11, and the Nifty was up 91.85 points or 0.39% at 23,707.90.
In its latest note, the US-headquartered investment bank sees 18 per cent base case upside for the BSE Sensex by the December end.
At close, the Sensex was down 720.60 points or 0.90 per cent at 79,223.11, and the Nifty was down 183.90 points or 0.76 per cent at 24,004.75.
On the NSE, Nifty50 plunged 193.60 points or 1.68 per cent to close at 11,333.85.
BSE bankex, finance, metal, energy, realty and utilities indices fell up to 1.51 per cent.
On the other hand, ONGC, Axis Bank, Tech Mahindra, Infosys and ICICI Bank were among the laggards.
The BSE gainers were led by IndusInd Bank (spurting over 8 per cent) followed by Axis Bank, ICIC Bank, Sun Pharma, SBI and Kotak Bank.
On the broader front, the S&P BSE MidCap ended flat at 15,155.04, up by 0.01 per cent, whereas SmallCap was up by 0.35 per cent at 15,025.51.
