Citi has downgraded India’s market rating to ‘neutral’ due to high valuations and moderating earnings growth forecasts. While acknowledging India’s strong macro story and potential US trade deal, the brokerage finds its earnings outlook less compelling compared to its expensive valuation. Citi favors banks, NBFCs, healthcare, and telecoms, while remaining underweight on IT, metals, and staples.
Rupee ends in the green on likely central bank support
The Indian rupee weakened to 87.53 against the dollar on Friday, despite likely RBI intervention, capping a turbulent week marked by new US tariffs. Portfolio
August 2, 2025