Worst isn't over yet. Sensex may bottom out
January 14, 2016  18:40
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Stating that the economy is losing momentum, brokerage firm Ambit Capital today said the benchmark Sensex is yet to bottom out and can fall to 22,000 level in the "foreseeable future".

Weak corporate earnings as well as low investments by foreign investors into India-focused funds could bring down the Sensex in the near term, its Chief Executive for Institutional Equities Saurabh Mukherjea said.

"There is a high probability that we will see the Sensex at 22,000 level in the foreseeable future," he said. The Sensex, which began the year at 26,160.90 level, has shed nearly 1,400 points or over 5 per cent following renewed worries over the health of Chinese economy, which forced both the World Bank and IMF to lower their global growth outlooks.

The market has fallen even below the levels when Prime Minister Narendra Modi was sworn in on May 26, 2014 and closed 2015 with a 5 per cent loss, a first in the past four years.
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