BENGALURU - Indian stocks will not recoup this year’s losses anytime soon and 2020 will mark the worst annual performance in nine years on fears of a deep downturn in the economy and business activity, a Reuters poll of market strategists found.
While the index has recovered nearly 20% since hitting a record low - a day before the nationwide lockdown started on March 25 - it is still down around 26% so far this year. If the poll forecast is correct, that would leave the index down by 22.5% for this calendar year, its worst performance since 2011 and a massive downgrade from 43,560 predicted in the last Reuters poll three months ago.
Over 85% of strategists - 29 of 34 - who answered an additional question said the current macroeconomic backdrop and higher unemployment poses a “high” or a “very high” risk to their outlook for the next three months.
Why it was bad in 2011?
The Indian Modia will portray the stock performance of 2020 as the best since Adam & Eve.
Just gotta break more pots link
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