Over the past five trading days, telecom stocks witnessed a brief uptrend followed by a relatively flat trajectory since the industry pinned hopes on a likely consumer resilience in the domestic market as various states intend to reopen their economies soon. With President Trump proclaiming that the country has passed the 'coronavirus peak', some states are expected to resume to normalcy as early as this week. However, with the initial trend in the earnings performance being less than impressive, the industry scripted a sharp downtrend toward the latter part of the week. This, in turn, negated the feel-good factor and triggered uncertainty within the overall industry.
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