The equities market closed in the red territory last week, as the NSEASI shed 0.12% week on week to close at 24,306.36pts. This worsened the YtD to -9.45%. All sectoral indices closed in the negative territory, save for the Banking sector index which ticked up by 5.80% at the end of the week. The market performance has reflected investors’ downbeat sentiment over the past few weeks. The outlook for the macroeconomic environment remains gloomy with the second wave of the COVID-19 outbreak in full swing. Thus, we expect the market to close down.
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