Nifty can fall to 20,500 in bear case, warns JPMorgan; downgrades Indian stocks to Neutral
- Posted on April 24, 2026
- By Business News Today
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Nifty can fall to 20,500 in bear case, warns JPMorgan; downgrades Indian stocks to Neutral
JPMorgan downgraded Indian equities to Neutral from Overweight, warning the Nifty could fall to 20,500 in a bear-case scenario, implying a 15% downside. While the long-term outlook remains intact, near-term risks such as elevated valuations, Iran war uncertainty and energy disruptions persist. The brokerage flagged earnings risks, with analysts cutting FY27 estimates and trimming MSCI India EPS growth forecasts.
