CLSA turns bullish on India after long bearish phase

CLSA has turned constructive on Indian equities after 18 months of bearishness, citing peak pessimism, easing West Asia risks, and valuations slipping below 10-year averages. The brokerage has reshuffled its portfolio, exiting defensive and laggard names while adding cyclicals and recovery plays. It prefers financials, autos, and select consumption stocks, while seeing better post-war opportunities across sectors.