Chris Wood of Jefferies makes a big statement on the Indian stock market going through a declining period. Have given. Know, is the market ready to come out of the low level or is there still more decline to come?
There has been huge volatility in the stock market in the last few weeks. There has been a decline of about 7-10 percent in the market from the peak till now, due to which there is uneasiness among the investors. Call him. New investors are struggling with the question whether the decline is over or whether there are still more losses. Saw the answer.
Giving his opinion in this regard, Global Equity Strategy of global investment bank Jefferies Head Chris Wood has said that the market may come out of the lower levels. This means that the downward trend in the Indian stock market will stop in the future.
Jefferies' positive outlook on Indian market
Chris Wood writes in his weekly note "Greed and Fear" The recent decline in the Indian stock market has mainly happened in midcap and smallcap stocks. He indicated that the market has fallen as much as it should have. Now there is a possibility that the market will bounce back from the lower level. Liquidity pressure has reduced due to increase in flat rate deposits and loans in private banks, which is affecting the market. It is a positive sign for.
Decline and recovery seen in data
On September 27, 2024, BSE Sensex will reach its all-time high of 85978. level was touched. After this the Sensex fell by about 6200 points i.e. 7% and came near 80000. Nifty Midcap 100 index has shown 5% recovery after falling 12% in recent days.
FPI Sales and DII Support
The main reason for the market decline is selling by foreign portfolio investors (FPIs). Was. In October and November FPI invested a total of Rs. 1.15 lakh crores were withdrawn. Despite this, buying by domestic investors (DII) and retail investors provided partial support to the market. Was.
Market direction in the new week
Jefferies believes that the market can now move towards stability. This could be a good opportunity for long term investors. GDP figures and global factors market movement in the new trading week starting from Monday Will decide.
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