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HSBC downgrades India stocks to underweight as Middle East oil risks rise
Economy
Published on 24 April 2026
Energy shock could hit India’s earnings recovery, HSBC warns
HSBC downgraded Indian stocks to “underweight,” citing rising energy prices tied to the Middle East war. The bank warns the shock could cloud India’s earnings recovery and make the market less attractive than North East Asian peers. Foreign investors have also been net sellers, though HSBC points to selective opportunities in private banks, base metals and healthcare.
- HSBC cuts Indian stocks rating to underweight
- Middle East conflict and higher energy prices raise risks
- Earnings recovery could be pressured, HSBC says
- Selective gains seen in private banks, base metals and healthcare
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times