The Indian equity market today was impacted by the global sell-off and the Nifty fell 96.30 points to 9429.45 and the Sensex closed down by 223.98 points at 30434.79.
S P Tulsian of sptulsian.com, Ashwani Gujral of ashwanigujral.com, Mitessh Thakkar of mitesshthakkar.com, Prakash Diwan Altamount Capital Management and Dharmesh Kant of Motilal Oswal Securities shared their thoughts on the way forward for the market and their stock specific views.
Gujral believes these corrections are routine matters. So, once this correction is done and the long positions are cut, market should head upwards. So maybe Nifty could lose another 100-odd points to 9350, then it will find support.
Therefore, this is the time to accumulate spaces like housing finance companies, NBFCs which have corrected because when the market turns, it will not give too many opportunities, says Gujral, adding that it looks like a mild correction in overall scheme of things.For the entire discussion, watch video