Market pricier than previous crisis levels despite grim growth outlook

The markets have recouped more than half of their losses triggered by the Covid-19 pandemic. The recovery in the market has been on the back of a slowing rate of new cases in key areas, aggressive fiscal stimulus measures and hopes of early cure to the disease.

However, the virtual shutdown of the economy and the question mark surrounding the return to normalcy mean the markets are not yet out of the woods. Also, many are terming the downturn in the economy to be worst in a century.

Despite the grim growth outlook, market valuations currently are way above previous crisis