Systematix turns overweight on Indian banks as softer crude signals easier rates

Systematix Group has upgraded India’s financial sector to overweight, saying lower crude oil prices could ease inflation, support the rupee and set the stage for a softer interest-rate cycle. It expects large lenders such as ICICI Bank and SBI to be among the first major beneficiaries. The view follows feedback from about 30 companies at its investor conference, where most participants projected volume growth of 15%-18%.