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.
VC funding drops 22.5 pc in China in Jan-Nov as India sees surge
As venture capital (VC) funding surged in India this year, China saw a 22.5 per cent decline in VC funding by both volume and value in the January-November period, a report showed on Thursday.
Indian share market opens in green, Nifty above 23,800
At around 9:37 am, Sensex was trading at 78,744.55 after gaining 271.68 points or 0.35 per cent, while the Nifty was trading at 23,812.50 after gaining 84.85 points or 0.36 per cent.
Indian share market ends in red ahead of key global policy decisions
Ahead of key policy decisions especially from the US Federal Reserve, the Indian stock market closed in red on Tuesday as selling was seen in the PSU bank, auto, IT, financial service, pharma, FMCG, metal, and realty sectors of Nifty.
Buy on dips strategy working well in Indian stock market amid sharp rebound
The surge in the Indian stock market on Friday helped the Indian benchmark indices end the week on a positive note. A strong 2,000-point rebound from the lows suggests that the buy-on-dips strategy is working well in the market, experts said on Saturday.