HSBC has upgraded Indian equities to 'Neutral' from 'Underweight', primarily due to a significant easing in crude oil prices. Brent crude futures have fallen 33% from their April peak of $126.41, reducing earnings risks for India, a major oil importer. This positive outlook is further supported by the return of foreign investors, who bought $1.6 billion in Indian shares in July. Lower global oil prices could alleviate inflationary pressures and improve Pakistan's import bill, potentially easing pressure on the Pakistani Rupee and indirectly influencing local gold prices.
بحوالہ / Source: www.brecorder.com