In a significant move, investment banking company Credit Suisse has upgraded Indian market. From its earlier stance of maintaining “market weight” category for Indian market, it upgraded to “over-weight” as the country’s economic recovery picked up with the slowing number of Covid 19 cases. Simply put, this means that compared to other stock markets, Indian market is more stable and investors can put in more money into the country.

While the Switzerland based investment bank upgraded Australia too, it downgraded China and Thailand stock markets.

"The upgrades reflect our expectation that economic and earnings recoveries are just starting their most rapid phases for the two markets. EPS momentum for the two are among the region's best, and the pandemic is no longer a major factor for either," Credit Suisse has said about India and Australia. It also said that Coronavirus cases, which have significantly come down, is no more a consideration in India.

"We downgrade China from Overweight to Market Weight in an APAC portfolio because the most exciting period of its recovery has passed,” it said, adding that China has limited potential for future GDP gains. On Thailand, it said that “the most exciting phase of its recovery lies too far in the future in 1H22.”