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This is an archive article published on September 12, 2012

HSBC cuts Indian stocks to underweight

Debt crisis in Europe would be a drag on global equities.

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HSBC downgraded Indian stocks to underweight from neutral,saying the debt crisis in Europe would be a drag on global equities,while at home,the country has seen no progress on fiscal consolidation or structural reforms.

The newsflow will be probably negative for the market,making investors nervous,HSBC said in a report on Wednesday.

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