Due to an increase in Covid-19 cases in the country, a steep drop in domestic stocks erased close to Rs 9 lakh crore from investors' wealth on Monday.
“There is a possibility that we may see more downside in the market. We are also hearing that the government may slap a ban on the industrial use of oxygen. If true, it may hit many industries. We surely see some impact of Covid coming in the June quarter,"
Nirmal Bang Securities
"Given the speed of Covid spread, and news flow of mass events all over the country, the base case would be to assume that the situation gets worse before it gets better,”
Head of Equities at Investec Bank PLC
“How long can one assign high PE multiples to Nifty50 on a high EPS projection, when there is no visibility?” he asked.