UBS recommends caution on mid & small cap stocks; remains underweight on India - UBS on Indian markets, top sectors to watch out for
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1 / 5 UBS on Indian markets, top sectors to watch out for In this interview with ETMarkets, Gautam Chhaochharia, Head of Global Markets, India at UBS, shares UBS’s nuanced outlook on the Indian market amidst ongoing global and domestic challenges. Despite recent corrections, he notes that valuations remain high, particularly in the small-cap space. UBS favors sectors like Utilities and Industrials, while adopting a cautious stance on Autos, Consumer Discretionary, and selective Financials and Pharma stocks due to specific growth and valuation concerns. India’s valuations, rich in comparison to other emerging markets (EMs), lead UBS to maintain an underweight position on Indian equities in the near term, even as long-term growth prospects remain strong. Edited Excerpts - Getty Images 2 / 5 Sector Strategy – Overweight and Underweight Picks Overweight Sectors: Utilities and Industrials – favored for stable growth potential. Underweight Sect...