It’s time to buy, say experts
It’s time to buy, say experts
The Sensex tanked to its 52-week low in the intra-day trade before ending the day at 24,851.83, tanking 554.50 points or 2.18 per cent, wiping out Rs 2.45 lakh crore of investor wealth.
“Global investors fear that the competitive dev-aluation of yaun may lead to lower product prices, which is expected to impact corporate earnings and manufacturing growth in many parts of the world,” said Gopal Agrawal, chief investment officer, Mirae Asset Global.
While experts feel that high bouts of volatility would be a permanent feature of equity markets in 2016, experts said investors should learn to take advantage of such sharp swings in the market.
“What we saw in the Indian markets was an overreaction to the developments happening in the global markets. Fundamentally, we are in a strong position at the moment and I expect more number of investors coming into our markets in coming days, which will help our markets to post imp-ressive returns going ahead,” said Deven Choksey, managing director, K.R.Choksey Securities.
He added that portfolio money invested in the Chinese equity markets are likely to flow into India going forward and investors should look at quality stocks across se-ctors for better returns. “It will be a stock specific market in 2016. Inste-ad of getting influenced by the movement of stock indices, investors should look at quality stocks,” he added.
“The markets are now trading near its 52-week low. Instead of selling in panic, I think investors should hold on to their large cap stocks,” said Rikesh Parikh, vice-president, market strategy at Motilal Oswal Securities.
With the Chinese stock market regulator on Thursday announcing several measures to restore stability in the market, U.R Bhat, managing director, Dalton Capital feels that the domestic equity markets could see some bounce back on short covering.
