Medium term outlook for Indian equities remains attractive: Credit Suisse thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Use equity corrections as buying opportunity: Credit Suisse India
April 22, 2021
Prefers cyclicals over defensive, mid-caps against large caps
Credit Suisse, a global wealth management firm, anticipates some selling pressure in the Indian equity markets in the coming weeks and has recommended that this could offer a good buying opportunity from a 6-9 month perspective.
“While the second wave of Covid-19 pandemic in India and subsequent restrictions may lead to some growth worries, we believe corporates are better placed this time. We do not expect a nationwide strict lockdown to curb the pandemic; instead policymakers could resort to partial lockdowns, faster vaccine approvals and strengthening of the healthcare infrastructure,” said Jitendra Gohli, Head of India Equity Research and Premal Kamdar, Equity Research Analyst at Credit Suisse Wealth Management India in the firm’s latest India Market Outlook Report.
MUMBAI – Indian markets fell sharply by over 3% on Monday, as more states have joined the worst-affected state of Maharashtra in entering quasi-lockdown possibly hitting consumer demand and overall economic revival. Possibility of complete lockdown in Maharashtra due to rise in covid cases made investors jittery with markets seeing sharpest single day decline since 26 February.
The BSE Sensex lost 1707.94 points or 3.44% ending at 47,883.38 while the Nifty slipped 524.05 points or 3.53% at 14,310.80.
According to Binod Modi, Head Strategy, Reliance Securities, concerns of possible reversal in economic momentum and earnings recovery made investors risk-averse and huge sell-off led ₹9 lakh crore of wealth erosion today. “Domestic equities today reminded the bloodbath of March 2020 as record rise in covid-19 cases in the country and possibility of lockdowns in several states dented investors’ sentiments. Additionally, recent weakness in Indian rupee may also aggravate investor
DAILY VOICE | Investors need not worry as India is better prepared to handle the second wave: Amit Shah of BNP Paribas msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.