Record highs – lockdown – recession - and back to lifetime highs. This is what Samvat 2076 looked like. While the year had begun on a solid note, no one knew what was to follow. Covid-19 outbreak spread like wildfire across the globe, starting from China and slowly gripping the rest of the world.
As India entered into a nationwide lockdown from the mid-night of March 24, fears of a disrupted economy sent markets into a recession. The S&P BSE Sensex and the Nifty50 indices tumbled over 39 per cent to hit a low of 25,639 and 7,511, respectively on March 24.
However, since then, the benchmarks have defied gravity and hit new highs on November 11, 2020 as hopes of potential Covid-19 vaccine sooth investors.
In this edition of the Business Standard podcast, Nikita Vashisht talks to Abhimanyu Sofat, head of research at IIFL Securities, and Siddharth Khemka, head of retail research at Motilal Oswal Financial Services to understand how have the markets fared in Samvat 2076 and what factors may influence the markets in the upcoming Samvat.
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