The equities market closed the previous week on a negative note as selloffs across some heavyweight counters and most banking stocks saw the NSEASI shed 1.99% WoW. Consequently, the YtD return worsened to -9.34%. This week, with another round of earnings season on the horizon, we expect negative sentiments to persist due to our weak H1 corporate performance outlook, caused by the adverse impact of the pandemic. Thus, we expect the market to close down this week in the absence of any positive triggers.
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