BSE Sensex was down 565 points in trade on Thursday afternoon as the market absorbed the impact of the US downgrade.
Sensex was trading at 65,216 points after a steep fall yesterday.
Titan led the Sensex losses down more than 2 per cent.
Morgan Stanley has upgraded India to overweight. India rises from number 6 to number 1 in our process, with relative valuations less extreme than in October, while MS macro, strategist and bottom-up analyst scores reflect MS' Blue Paper thesis on India's Decade.
Our call last October for the beginning of a new bull market in Asia/EM equities is increasingly priced, with MSCI EM up 24 per cent since the late-October trough, 5 per cent below our June 2024 target of 1,100.
Australia moves down to number 22 of 27 markets in our framework, Morgan Stanley said.
Taiwan moves down to number 7 in our framework. It downgraded MSCI China to equal weight as growth and valuation concerns remain: MSC China is now within 7per cent of our target of 70 and has delivered 9 per cent total returns since December 4, in line with MSCI EM.
Sensex, Nifty see strong relief rally ahead of key RBI MPC decision
The Indian stock markets staged a robust relief rally on Tuesday, snapping a three-day losing streak ahead of the Reserve Bank of India's (RBI) monetary policy decision on April 9.
Sensex, Nifty tank over 3 pc as global trade war fear rises
In a bloodbath on the Dalal Street, the stock markets plunged on Monday morning following the global sell-off, as the trade war fear increased amid impending US reciprocal tariffs.
Startup funding jumps 2.3 times to $357 million this week
India’s startup ecosystem witnessed a strong funding rebound this week, with total investments soaring over 2.3 times to around $357.29 million across 30 deals, compared to $152.49 million raised by 23 startups last week.
India steps up vigil against cheap Chinese imports amid US tariff hike
India has stepped up vigil to prevent the dumping of cheap Chinese imports in the country after the steep US tariff hike on the goods exported by the Communist country.
Rupee strengthens against dollar amid Trump's reciprocal tariffs
The Indian rupee witnessed sharp gains on Friday at below 85 against dollar, as the dollar index and oil prices dropped sharply amid concerns over recession in the US economy after the reciprocal tariffs were announced.