Nomura Downgrades India to 'Neutral', Cuts Nifty Target Amid Oil Price Concerns

• Nomura downgrades Indian equities to "neutral" from "overweight", joining Goldman Sachs and UBS.
• Nifty 50 target for December 2026 cut to 24,500 from 29,300, citing potential 7.5% earnings reduction.
• Elevated oil prices due to the ongoing Iran war are the primary reason for the downgrade.
• Recommends switching to Korean equities and MSCI China, where they remain "overweight".
• Concerns include AI's implications for India's economy and potential moderation in domestic market flows.