Investors are turning wary of crowded India trade after run-up
Tuesday, 20 February 2024
The rally in Indian equities faces challenges from earnings misses, rival markets, and a recovery in Chinese equities. Foreigners sell local shares, prompting downgrades from Citigroup and Societe Generale. Investors consider reallocating capital to Korea and Taiwan. China's market rescue efforts may be slowing. Despite the short-term profit-taking, the longer-term outlook for India remains in tact.
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