Today started with hope and finally ended with weeds in Dalal Street. Many investors and traders were seen trying to get relief after being in the strong grip of the market bears, but their efforts appeared to be in vain. Today, on the expiry day, the market created a ruckus, again making the condition of investors and traders thin.
The S&P BSE Sensex slipped to its 52-week low. 17 Clever stocks traded near their 52-week low or touched their 52-week low. Hindalco, Tata Steel, Coal India, ONGC and Tata Motors recorded the biggest drop of 5-7%. In Nifty’s 30-stock index, only Nestlé (India) stock managed to close in the green.
Amidst all this gloom, a pertinent question rising in everyone’s mind is – how is legendary investor Warren Buffett going to handle this? – Should an investor be afraid or eager to buy? There is probably no straight answer to this simple question.
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Deepak Jasani of HDFC Securities said: “An investor should be careful. If your equity exposure is too high, sell the lucrative stocks. If the stock exposure is too low, it’s time to buy stocks. But the purchase must also be done very slowly because the market can still go down. However, he declined to answer how low Nifty can go.
Thursday’s decline was the fifth straight fall for the market. This is the ninth fall in the last 10 sessions. The Sensex lost nearly 8% in those 10 sessions. Investors suffered a loss of Rs 20 lakh crore during this period.
Amid this steep decline, Vinod Nair of Geojit Financial Services also believes that a stock market crash is also an opportunity. He added that if the Ukraine crisis is resolved and China reopens its ports and stores, it could be the last days of market decline. He said there are indications like this but uncertainty remains.
Nair said, “This is the best time to SIP into stocks for the next 2-6 months from an investment perspective.” Nair said if an investor is already investing and has money, they can average out gradually.
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However, he also didn’t specify what Nifty’s lower level would be. But Nair said 14,500 could be the worst level for him based on weekly data. Yet much will depend on the investment of FIIs. Their investments are based on the evolution of their country.
Yash Gupta of Angel One said, “We believe the market is now in the consolidation zone due to global and domestic issues. It looks very attractive.”
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