Bear market on the horizon? Deepak Shenoy weighs in on incoming ‘doomsday’
₹22,000 crore in May 2024. FIIs offloaded Indian equities worth ₹22,858 crore within the first six market sessions so far in May 2024.
Also Read: FIIs offload ₹22,858 crore in 6 sessions: VIX to hawkish Fed—5 key reasons causing bulk selling in Indian equities FII selling intensified as Indian markets are underperforming, while those of China and Hong Kong are outperforming. Earlier this week, market veteran Shankar Sharma highlighted that a threat was lurking beneath India’s bull market which he believed to be the single biggest threat - overcapitalization driven by the greed of merchant bankers and operators.
Read here: Some stocks will fall 90% in next bear market, warns Shankar Sharma “Single biggest threat to this Bull Market are greedy Merchant Bankers & Operators, exhorting foolish promoters to raise excess capital, permanently destroying balance sheets via over capitalisation. I repeat: These are the stocks that will fall 90% in the next Bear market," Ace investor Shankar Sharma wrote in a post on X.
On Friday, the Indian stock market snapped a five day losing streak to trade higher amid short-covering and positive global market cues. At 10:15 am, the Sensex was up 483.11 points, or 0.67%, at 72,887.28, while the Nifty 50 was trading 152.25 points, or 0.69%, higher at 22,109.75.
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