NEW DELHI: Domestic stock market appears to have called a bottom for the Covid-19 crisis, even though the number cases crossed the 5,000 mark and the government signalled a lockdown extension. Stocks have bounced smartly over the past couple of days, despite occasion slips. Analysts say they see a flattening of the curve in coronavirus infections. Plus, there is hope for an fiscal stimulus package after RBI’s record rate cut. All of these have triggered short covering and buying on fear of missing out, giving Indian shares the much-needed lift this past week. Some market veterans called it a bear market rally, which may continue in fits and starts. “Investors should be extremely careful. The problem of corporate India is not going to disappear overnight. We are not going to return to a wide and deep bull market anytime soon. We are in a bear market, but may say see some bear market rallies,” Shankar Sharma, co-founder and vice-chairman of Mumbai-based trading company First Global, told ETMarkets.com. As of today, there are both bullish and bearish projections for domestic equities in the year ahead. Some analysts say Nifty should top the 10,000 mark by April-end. “There is talk of flattening… Read full this story
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Bulls are back? No, they are here for a stroll. Analysts brace for fresh selloff have 306 words, post on economictimes.indiatimes.com at April 9, 2020. This is cached page on Konitono News. If you want remove this page, please contact us.