Most Indian Stocks Fall as Coronavirus Cases Top 10 Million
In this article
Most Indian stocks fell as investors assessed heady valuations and new virus cases ahead of the winter holidays.
The S&P BSE Sensex was little changed at 46,966.57 as of 10:09 a.m. in Mumbai, as about two stocks fell for each one that rose. The NSE Nifty 50 Index lost 0.1%. Both measures extended record highs with gains of almost 2% last week, marking theirlongest weekly winning streaks since April 2019.
Street earnings growth expectations arehigh and market valuations are at a peak at a time that prospects of growth revival aren’t robust enough, Nomura Holdings Inc. analyst Saion Mukherjee said in a note published Saturday.
“The impact of the pandemic on consumers is large, and credit growth and spreads are far from indicating a sanguine outlook,” he wrote.
196,295 in U.S.Most new cases today
+11% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-0.8095 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23
3.7% Global GDP Tracker (annualized), Nov.