JPMorgan downgraded Indian equities to neutral from Overweight, warning the Nifty could fall to 20,500 in a bear-case scenario, implying a 15% downside. While the long-term outlook remains intact, near-term risks such as elevated valuations, Iran war uncertainty and energy disruptions persist. The brokerage flagged earnings risks, with analysts cutting FY27 estimates and trimming MSCI India EPS growth forecasts.
AI stocks retreat as Democratic sweep puts data centre boom in focus
AI-related stocks came under pressure on Wednesday despite a broader Wall Street rally following the Democratic sweep of Congress. Data centre companies CoreWeave, Iren and