Investment banking firm Citigroup Inc.’s broking unit has downgraded Indian equities to “neutral” from their earlier rating of “overweight” on Thursday, July 17.On the flip side, they have upgraded Chinese and Korean equities to “overweight” within the Emerging Market basket.
From the April lows made by the Nifty 50 index during US President Donald Trump’s reciprocal tariff saga, the index has recovered over 15% from those levels.
Citi has cited India’s ‘relatively higher valuations’ as the reason behind their downgrades.The brokerage believes that cutting-edge technology and increased government support will aid South Korea’s outperformance. The nation’s benchmark KOSPI index is already up 33% so far this year.
From the April lows made by the Nifty 50 index during US President Donald Trump’s reciprocal tariff saga, the index has recovered over 15% from those levels.
Citi has cited India’s ‘relatively higher valuations’ as the reason behind their downgrades.The brokerage believes that cutting-edge technology and increased government support will aid South Korea’s outperformance. The nation’s benchmark KOSPI index is already up 33% so far this year.
China’s benchmark, the CSI 300 has also risen 21% so far, after negative returns in the last two years.
This is a breaking story and will be updated with more details.
First Published: Jul 17, 2025 9:02 AM IS
