Uncertain outlook: Markets in Samvat 2079

With corporations still complaining about margin pressures and soft demand, markets will hope for broadening of recovery

Samvat 2079 started with significant uncertainty. The Nifty has eased by a nominal 2 per cent since last Diwali. The rupee has dropped almost 9 per cent against the dollar while gaining against the pound, the euro, and the yen. On the positive side, most corporations are now declaring revenues exceeding respective pre-Covid levels of 2019-20, alongside higher profits buttressed by cost-cutting measures implemented during the pandemic. Higher corporate sales gel with strong traffic movements on railways and ports, healthy goods and services tax collection, and record power consumption. All these indicate the domestic economy is pulling out of the