fintech / news / / Free Press Journal
Indian equity benchmark index Nifty 50 could fall to the 20,500 mark in a bear case, warned global brokerage firm JPMorgan in its latest note.
JPMorgan downgraded Indian equities from 'overweight' to 'neutral' due to valuation concerns.
KEY POINTS
- JPMorgan cut Nifty 50's bear case target to 20,500 from 24,000 and base case to 27,000.
- Indian large-cap stocks' limited exposure to emerging tech was cited as reason for target cuts.
- Premium of Indian equities to MSCI EM has dropped to 65% from 109% at its peak.
- A $64 billion IPO and QIP pipeline is weakening existing holders and limiting upside potential.
COMPANIES
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