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The second wave of Covid-19 has confirmed to be a horrible adversary with a big rise in circumstances overwhelming the medical infrastructure of the nation.
Scarcity of hospital beds, oxygen, Remedesivir, and different challenges now dominate the social media discussions.
The market, too, is witnessing a big correction within the wake of rising circumstances and re-imposed lockdown-like measures and strict restrictions throughout states.
Whereas there are challenges, the federal government has proactively began endeavor measures to open up the immunisation program to cowl a broader age group from 18 to 45 12 months outdated from Might 1, 2021.
Basing the sensitivity evaluation of the virus unfold and the period of lockdown, we estimate FY22 earnings for NIFTY 50 to say no by 6% to 16% within the base to the bearish case state of affairs. This implies FY22 earnings are prone to be in a band of 575 to 650 which nonetheless implies development on FY21 ranges. Whereas this isn’t a doomsday state of affairs, it does point out that just a few sectors will underperform within the close to to medium time period whereas the opposite few will outperform.
Accounting for all these elements, we lower our December 2021 NIFTY 50 goal by 6% to 16,100.
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