After the sharp run-up in valuations, wealth managers believe this performance is unlikely to be repeated, and have asked investors to stagger their purchases in small cap stocks and come with a longer time frame.
India’s $2.8tr stock market braces for ‘correction’ issacjohn@khaleejtimes.com Filed on May 11, 2021
Share markets are expected to see a ‘sharp correction’ soon, as profit booking continues in the coming weeks. Reuters
India’s shares might witness more correction on account of rising bond yields and the second wave of Covid-19.
The debilitating impact of the second wave of Covid-19 outbreak on India’s economy will have its inevitable ramifications on the stock markets, triggering an imminent correction as foreign portfolio investors continue to exit the scene in droves, economists and analysts said.
On Tuesday, under sustained selling pressure, benchmark indices ended nearly 1.0 per cent lower, tracking weakness in global markets and dragged primarily by finance and banking stocks.
Read more about FPIs turn net sellers after 6 months; withdraw Rs 9,659 crore in April on Business Standard. This was the first net withdrawal since September 2020, when they had pulled out a net of Rs 7,782 crore from equities
Indian shares were on track to snap four straight sessions of gains on Friday, as losses in banking stocks weighed on the indexes, while investors eyed earnings from Reliance Industries, the country's most valuable company, later in the day.