** Indian market is poised for a near-term bounce, says Jefferies, making changes to its India model portfolio
** Cites Nifty's .NSEI valuations near long-term averages, government spending, RBI easing, and strong domestic inflows as reasons for the potential rise
** Nifty is down 15% since hitting record peak in September
** Brokerage expects banks, non-bank lenders, autos, property, and power to fuel Nifty's revival
** Double downgrades IT .NIFTYIT to "underweight" from "overweight," citing high valuations and U.S. economic risks
** Metals .NIFTYMET get a higher weight due to a potential China recovery, expectations of safeguard duties on Chinese steel imports
** Cuts pharma .NIPHARM to "neutral" from "overweight" over U.S. tariff concerns
** Crompton Greaves Consumer CROP.NS joins the portfolio, while weight of some auto stocks cut after weak sales data
** In its India model portfolio, Jefferies replaces Home First HOME.NS with Shriram Finance SHMF.NS, citing strong demand for used commercial vehicles and stable asset quality
Jefferies India Model Portfolio https://reut.rs/41TUwgi
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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