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Wednesday, 20 January 2016
Silver linings: Midcaps that rallied upto 38% in market meltdown
Global markets are going through a rough patch with parallels being drawn with the global financial crisis of 2008. Given the government's stretched finances and the patchy economic recovery, expectations from the upcoming Budget are low. India has so far not been immune to the global downtrend, with the Sensex and Nifty hitting new 52-year lows almost every week in January. Since December last year, both benchmark indices have lost around 6.5 percent. Midcaps and smallcaps have borne the brunt of the selling pressure so far and experts are warning of more pain ahead.
Global markets are going through a rough patch with parallels being drawn with the global financial crisis of 2008. Given the government's stretched finances and the patchy economic recovery, expectations from the upcoming Budget are low. India has so far not been immune to the global downtrend, with the Sensex and Nifty hitting new 52-year lows almost every week in January. Since December last year, both benchmark indices have lost around 6.5 percent. Midcaps and smallcaps have borne the brunt of the selling pressure so far and experts are warning of more pain ahead.
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