Multi-year bull cycle in India unlikely, says Alliance Bernstein

It concluded that this would be 'a macro rebound but not a multi-year bull cycle'

Will the current weak macros trigger a multi-year bull cycle for the Indian equity markets? While the current set-up offers similarities to FY03 — the inflexion point for the previous multi-year bull cycle between FY04 and FY10 in India — it may just end up being a macro rebound, says Alliance Bernstein, a global investment management and research firm. 

The US-headquartered assets management firm compared various macro data points at present with that in the past bull cycles to conclude that this would be “a macro rebound but not a multi-year bull cycle”.

“From the death of the previous strong macro upcycle