Market veteran Christopher Woods has warned that if the lockdown in India increases, selling in the domestic stock market will increase.
According to the Economic Times, Wood said on Monday, “The three-week lockdown in India is about to end. If the three-week lockdown is imposed again, selling in the Indian stock market will increase.”
Wood, head of Jefferies’ Global Equity Strategy, said that he would be surprised if the shares did not touch their recent lows again after the lockdown escalated. He said that during this period, the market can also be seen on the announcement related to medicine or vaccine.
Wood said he rated India’s rating as a marginal “outperform” that was already underperforming for Coronavirus infection. On the poor performance of the Indian stock market, Wood said, “There is no evidence of cyclical secular recovery in the Indian market. The problem of NBFC will continue for the next several years. In the case of Yes Bank, the solution was taken too late. But now Even the solution is not completely solved. “
According to the data, the stock market has fallen by 25 percent since February 1. The figure is 15 percent for the US market.