ADVERTISEMENT

ICICI Securities: Market Environment Is A Paradoxical Mix Of 2000, 2003 & 2010

ICICI Securities: Market Environment Is A Paradoxical Mix Of 2000, 2003 & 2010 

A pedestrian looks on while an electronic stock board displays a graph. (Photographer: Kiyoshi Ota/Bloomberg)
A pedestrian looks on while an electronic stock board displays a graph. (Photographer: Kiyoshi Ota/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

In the current market environment, we see similarities of the global central bank liquidity driven sharp rise in equities seen in 2010 and the polarisation of market seen during the tech bubble of 2000.

Given the outcomes post similar market environments seen during the peaks of 2000 and 2010, we remain cautious on the outlook for overall stock market performance.

However, given the similarities with 2003 in terms of extreme risk aversion towards certain sections of the market (old economy, financials, public sector undertakings, small caps etc.), bottom of the cycle profit after tax/gross dometic product, weak industry credit and private capex cycle, we do not see traits of a full scale bull market yet.

Click on the attachment to read the full report:

ICICI Securities Strategy Outlook .pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.