In this article
Most Indian stocks fell as investors assessed heady valuations and new virus cases ahead of the winter holidays.
The S&P BSE Sensex was little changed at 46,966.57 as of 10:09 a.m. in Mumbai, as about two stocks fell for each one that rose. The NSE Nifty 50 Index lost 0.1%. Both measures extended record highs with gains of almost 2% last week, marking their longest weekly winning streaks since April 2019.
Street earnings growth expectations are high and market valuations are at a peak at a time that prospects of growth revival aren’t robust enough, Nomura Holdings Inc. analyst Saion Mukherjee said in a note published Saturday.
“The impact of the pandemic on consumers is large, and credit growth and spreads are far from indicating a sanguine outlook,” he wrote.
196,295 in U.S.Most new cases today
+11% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-0.8095 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23
3.7% Global GDP Tracker (annualized), Nov.