Jefferies has adopted a cautiously optimistic view on the Indian equity market, noting a significant increase in equity supply, which has reached $60 billion year-to-date. While maintaining a favorable outlook on banks, healthcare, telecom, and two-wheelers, the firm has downgraded the consumer staples sector to neutral and raised the IT sector rating to neutral. Despite strong domestic demand, Jefferies advises a cautious approach to equities in the near term.
