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Jefferies sees 15% correction in Indian markets; adds Zomato to portfolio

In the past one month, the S&P BSE Sensex and the Nifty50 have gained around 8 per cent each with a large part of these gains coming via the BFSI route

Topics
Jefferies | Indian stock markets | Zomato

Puneet Wadhwa  |  New Delhi 



stock markets
On its part, the US Fed has hiked its benchmark rates by 225 basis points (bps) so far, but the tone on further hikes, analysts believe, does not appear that hawkish.

The pullback in the Nifty from its recent lows looks unsustainable, said analysts at in a recent note even as they acknowledged the improved US outlook on lowered inflation expectations and lower recession risks. Among stocks, has removed/reduced exposure to Gail, Gland Pharma and Tech Mahindra (TechM), while introducing Zomato, Thermax, LIC Housing and Indian Hotels to their model portfolio.

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First Published: Wed, August 10 2022. 11:30 IST

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