Stories
Amnish Aggarwal Predicts More Market Downside and Rules Out V-Shaped Recovery
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CNBC TV18•09-10-2026, 10:14
Amnish Aggarwal Predicts More Market Downside and Rules Out V-Shaped Recovery
- •Amnish Aggarwal of PL Capital warns of further pressure on Indian equities driven by rising crude oil prices, high global bond yields, and persistent inflation.
- •Consumer demand post-Diwali, especially in discretionary sectors like automobiles, will be critical to monitor amid ongoing global economic uncertainties.
- •Global headwinds including geopolitical tensions in West Asia and narrowing bond yield gaps between India and the US could disrupt foreign capital flows.
- •IT services face a cautious outlook due to the rapid rise of artificial intelligence and the expansion of global capability centers in India.
- •Hospital stocks could face profitability risks from potential regulatory measures extending to consumables and medicines, challenging their current high valuations.
Key Questions Answered
Amnish Aggarwal expects further pressure on Indian equities due to rising crude oil prices exceeding $100 per barrel, increasing global bond yields, persistent inflation, deficient monsoon conditions, and growing uncertainty in West Asia.
The outlook for IT services stocks is being impacted by the rapid adoption of artificial intelligence and the growing trend of global companies establishing global capability centers in India to manage their technology and business functions.
Hospital stock profitability faces risks from potential future regulations that could extend beyond cancer drugs to include consumables and other medicines where margins can be significant.
