Investors are unlikely to get any respite in the coming week with market experts pointing out that the rising number of coronavirus cases in the US along with the uncertainty back home will keep stock prices under pressure.

The fear is that despite benchmark indices shedding more than 30 per cent over the last seven weeks, the bottom is yet to be reached. Market mavens feel there will be some form of stability only if the authorities are able to gain some control over the spread of the virus.

Last week, the benchmark Sensex has crashed seven per cent with more number of cases being reported in the country. Banking stocks bore the brunt, particularly after Moody’s Investors Services changed the outlook on the Indian banking system to negative from stable.

“We are not looking at a good week ahead. The troubling news comes not only from our country where there is no decline in the growth of coronavirus cases, but also from the US where President Donald Trump has warned that there will be more deaths even as the number of cases there rose to over three lakh,” an analyst from a foreign brokerage said.

He added that in India, too, there is uncertainty as to what will happen after April 14 when the national lockdown is lifted.

“Already states, such as Maharashtra, have hinted that the lockdown may continue even after that as the number of cases have risen in Mumbai. Even if the restrictions are lifted, which will be in phases, it will take time for economic activity to return to normalcy,” he observed.

Experts are of the view that while investors may see the occasional rally, those with a long-term perspective should use the current opportunity to accumulate blue-chips that are available at attractive valuations.

“The markets would continue to be highly volatile and would track the global markets along with the trend in coronavirus cases globally and locally. However, it has corrected significantly, providing significant investment opportunity for the long-term investors. While it is very difficult to predict the bottom of the market, it always rewards investors in the long term who take the benefit of such sharp fall. Thus, we suggest accumulating on a gradual basis,” said Siddhartha Khemka, head of retail research, Motilal Oswal Financial Services Ltd.

In a note, analysts at ICICI Direct said that in the current circumstances, investors should look at stocks with established business models that have survived such panic situations.