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Commentaries on COVID impact more important than earnings for market, says CLSA

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Commentaries on the impact of COVID-19 will be more important than earnings for the market, said Vikash Kumar Jain, investment analyst at CLSA, on Friday.

Commentaries on the impact of COVID-19 will be more important than earnings for the market, said Vikash Kumar Jain, investment analyst at CLSA, on Friday. Jain said that as long as commentaries suggest the impact is temporary, the market will like it.
"More than earnings what will be important is commentary because towards the end of March and early part of April with COVID cases – there is a keenness for everybody to know the impact of that on businesses. So, as long as the commentary seems to suggest that this is possibly temporary, I would say the market should be able to take it in a stride," said Jain in an interview with CNBC-TV18.
“Currently, our conjecture is that this will be seen as a temporary digestible period. If that is the case then commentary of management, as they report results, should soothe feats," said Jain.
Talking about sectors, he said, “Stocks which are more exposed outside India are doing well and similarly is the case with IT, pharma. So those are the stocks which are doing well, but the point where we start feeling more comfortable about the COVID situation as well as vaccination picking up – that’s when some of the more domestic focused stocks would start picking up like banking.”
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