2024 market crash a bad dream, those in 2008, 2013 or 2020 were nightmares: Deepak Shenoy
Deepak Shenoy, Founder, Capital Mind, says 2008, or 2013 falls, apart from 2020, were much tougher times than this. While the 2024 crash has been a bad dream, the earlier crashes were nightmares. In 2024, we were down 10%, but we have come back up. The GDP numbers are problematic, but part of it had to do with the relatively slow recovery from the post-election result phase when you did not get as many capex orders.
Is the nightmare over or will the nightmare come back again? How should long-term investors look at the last three months?
Deepak Shenoy: It is an interesting thing that we call it a nightmare because it has been tough for people who perhaps have not seen steep falls in the index. But overall if you have seen 2008, or 2013, apart from 2020, those were tougher times than this, way tougher. While I would say this is a bad dream, those things would be nightmares. We were down 10%, we have come back up. The GDP numbers are problematic, but part of it had to do with the relatively slow recovery from the post-election result phase when you did not get as many capex orders.
The Budget was at the end of July and so there was not that much from the government expenditure moving, though government expenditure did propel some of the space. And the manufacturing numbers were relatively low, again I think this is because of a close down of some of the government orders at that time. Since then, we are seeing a bit of a recovery. Markets will kind of price in some of these things in terms of recovery, which is
