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Below Perspective on the markets by Dr. Joseph Thomas, Head of Research, Emkay Wealth Management

“The equity market traded lower again mainly on account of the overarching influence of negative factors and news from overseas. Some of the recent macro numbers show the US economy still staying in relatively good health, but the news from China and Japan are not encouraging due to the larger number of covid cases reported from several countries , and the impact of the same on global growth and economic activity in the coming months. This factor may be on the mind of the markets, as to how severe the wave of infections would be and how it will be countered. Stocks across market caps and throughout all sectors traded lower with metals, auto and PSU banks suffering the worst fall. Since countries like India and those in Europe have a much better level of preparedness, the impact may not be too hard this time around, and activity could remain closer to normal.”   

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