“Bearish on Indian equities, particularly rate-sensitive and highly leveraged segments, due to a tightening global interest-rate cycle, which could lead to higher bond yields, tighter financial conditions, and weaker foreign investor flows. The brokerage anticipates 75-100 basis points of cumulative RBI rate hikes in the current cycle if crude prices remain elevated and inflation expectations rise, pushing CPI inflation above 6% in Q3FY27.”

Motilal Oswal Analysis’s track record (trackable calls only): 18 graded calls · 95% CI 12–51%