Bernstein Downgrades Indian Market to 'Neutral' Amid High Valuations

• Global brokerage Bernstein downgrades Indian stock market to a 'Neutral' rating.
• The primary reason cited for the downgrade is extremely high valuations, making India one of the world's most expensive equity markets.
• Indian market is trading at a forward P/E over 20x, significantly higher than the global average of 15.1x.
• Bernstein estimates Nifty has only 7.5% upside from current levels, with a target of 28,100.
• Brokerage advises investor discipline based on valuations, as returns may come from re-rating rather than strong earnings growth.

Why It Matters: Bernstein downgrades India to 'Neutral' due to high valuations, predicting limited Nifty upside.