HSBC upgraded Indian equities to "Neutral" from "Underweight" on Thursday, as easing crude oil prices reduced earnings risks for companies in the world's third-largest crude importer and measures to stabilize the rupee drew back foreign investors.
The brokerage raised its 2026-end target for the BSE Sensex index to 84,000 from 80,500 earlier, indicating an 8.6% upside from current levels. Brent crude futures are down 33% from their April peak of $126.41 as Middle East tensions eased following an interim U.S.-Iran agreement to end the war.
