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Markets May Fall Another 5-7%, Say Experts
The Morning Standard
|January 13, 2025
Market recovery is expected post-budget and once US President-elect Donald Trump's policies become clearer
INDIA'S equity market may fall another 5-7% due to existing headwinds that have brought down the benchmarks-BSE Sensex and NSE Nifty 50-by about 10% from their all-time high levels.
Last week, the Sensex fell over 2.20% to settle at 77,379 while the Nifty plummeted 2.49% to close at 23,440.
"In the next three weeks, we have material events including the Union Budget announcement - until then, we are likely to see a 5-7% correction in the markets. A weak Budget parallel to the 2024 August budget could shock the markets. No mention of railways, infra, and defence will result in valuations of these sectors dropping to 30-40x levels," said Sreeram Ramdas, Vice President at Green Portfolio PMS.
This story is from the January 13, 2025 edition of The Morning Standard.
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