India’s equity benchmarks have entered the bear market, tracking the global selloff driven by the coronavirus outbreak worldwide.
Nifty 50 tumbled 7.6 percent on Monday, resuming its decline after a surprise comeback on Friday. It has now plunged more than 20 percent since January highs.
Stocks fell despite global policymakers’ coordinated action to using dollar swap lines. The U.S. Federal Reserve also cut rates to near-zero in the second emergency reduction in two weeks and announced a bond-buying program. The Reserve Bank of India too provided liquidity support after the close of trade and didn’t rule out a rate cut.
As the world joins hands to counter virus-driven slowdown, where are the markets headed? Here’s what a poll of veteran analysts and investors by BloombergQuint revealed:
In times of volatility and wild swings, investors usually stagger their buying. Are the market veterans deploying cash?
Most of the market veterans will buy sectors that have been outperformers in the last 12 months.