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InCred Equities has revised its Nifty target down by 3% to 25,327 points, citing a challenging macroeconomic environment and delayed RBI rate cuts. The brokerage upgraded the pharmaceutical sector to "overweight," highlighting positive revisions for stocks like Cipla and Alkem Laboratories, while sectors such as commodities and FMCG faced downgrades. Despite an 8% decline in the Nifty-50 index since mid-September, improved consumer sentiment during the festive season is expected to boost retail demand.
UBS Principal Capital sold a 1.03% stake in BSE Limited, with notable buyers including Amansa Holdings Private, Think India Opportunities Master Fund LP, and iShares Core MSCI Emerging Markets ETF. In a broader trading session, UBS offloaded shares in several Indian companies, including Alkem Laboratories, Kalyan Jewellers, and Oberoi Realty, while Amansa Holdings acquired 13.94 lakh shares of GMM Pfaudler. Other transactions included sales by Paradise Moon Investment Fund-I and Vikasa India EIF I Fund-Incube Global Opportunities in Mcon Rasayan India Ltd.
Indian equities are set to receive $2.5 billion in inflows following the MSCI's latest rejig, which will include BSE, Voltas, Alkem Laboratories, Kalyan Jewellers, and Oberoi Realty in the MSCI Global Standard Index. HDFC Bank's weightage will increase, contributing to a total of 156 stocks in the MSCI Standard/EM Index, while the Smallcap Index will see 13 new inclusions, raising its total to 525. India's representation in the MSCI EM Index will rise from 19.3% to approximately 19.8%, marking the highest increase among emerging markets in this rejig.
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