NSE's Nifty Index will hit the bottom of 6000: UBS

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New Delhi, Ta-9 April 2020, Thursday

Global Prime Minister Narendra Modi's hint that lockdown may continue after April 7, Global brokerage firm UBS said that NSE's Nifty Index is facing a downward spiral in the wake of rising instability in India in the wake of the lockdown. There are stages in which the lockdown will have to continue, Modi said Meryum that sought to expand the variety of administrations and experts lockdown. The three-week lockdown was scheduled to end on April 7.

The general view is that raising a lockdown is not easy. Thus, after in-depth discussions at various levels, the central government will take a final decision on lockdown.

The country is facing serious financial challenges due to Covid-1. Given the current situation, more drastic measures may be needed in the future.

Following the Prime Minister's statement, global brokerage firm UBS said that if the lockdown is extended in India, there will also be a surge of economic hostility. India is likely to continue the turmoil up to August-September due to the lockdown situation.

Due to this adverse situation, the profits of listed companies will go up by more than 5% and the impact on PE will be seen. On the other hand, India's GDP growth will also come down to the bottom. Thus, in the wake of this adverse situation, the NSE's Nifty Index will rise to the next level. Thus, the Nifty is likely to be further eroded by 5 to 5 percent from the current surface, the report said.

According to market circles, the move to the Indian equity market is likely to be on the cusp of corona virus cases in the country and in the world and on global market trends. During the past month, the market has seen significant correction. Until Corona's new case is restrained, next time will be extremely challenging for the market. Any adversity that may arise on this issue could create more pressure on the stock market.

Apart from this, players are also keeping an eye on Brent crude's price fluctuations, the dollar movement against the rupee and the flow of investment from foreign investors. Investors are currently worried about the rise in the number of coronary infections worldwide and the impact it will have on the economy.

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