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Global brokerage firm Credit Suisse on Tuesday downgraded Indian equities markets to 'underweight' from 'overweight' saying the high crude oil prices would lead to inflationary pressures and hurt the current account."Because of its strong structural prospects and robust EPS momentum, we will look for opportunities to re-enter the market, but today we tactically cut our India position from overweight to underweight," Credit Suisse said in a research note.Dan Fineman, co-head of equity strategy for Asia-Pacific Credit Suisse, said in the report that India is the most vulnerable among the Asian markets due to the higher oil prices."Higher oil prices hurt the current account, add to inflationary pressures and increase sensitivity to Fed rate hikes," Credit Suisse noted in the report.The Indian stock markets key indices slumped for the fifth straight session on Tuesday with benchmark Sensex sliding 380 points.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Business :Crude oil price heading to record high, how will it impact Indian economy?

Crude oil prices soared to a 14-year high of $140 a barrel on Monday. With the Ukraine conflict showing no signs of a thaw, the crude oil price is set to surpass its record high of $147.50 a barrel sooner rather than later. How will it impact the Ind ...

Business :Credit Suisse downgrades Indian equities due to surge in crude oil prices

Global brokerage firm Credit Suisse on Tuesday downgraded Indian equities markets to 'underweight' from 'overweight' saying the high crude oil prices would lead to inflationary pressures and hurt the current account. ...