Several market veterans are advicing investors not to be deterred by the volatility and stick to asset allocation, as a host of sectors that had taken the sharpest knock in recent weeks look set to rebound when equity markets open on April 11.
The SEBI and the NSE on Thursday banned 26 entities from trading in the stock market. The decision came at a time when both the authorities are conducting an investigation on the trading activity of Gitanjali Gems and Prime Broking Company, a subsidiary of Prime Securities.
Badly bruised by weak sentiment and heavy foreign institutional investors' (FII) selling, Indian market is still licking its wound unable to attract investors. However, some experts see the second half to bring in better prospects.
N Jayakumar, president of Prime Securities says participation levels in the market are very low at the moment. According to Jayakumar, the GAAR clarification and crude oil prices cooling off will support markets in the near-term. He foresees a sharp correction in crude oil prices.
Participation levels are extremely poor and open interest levels in the market have come down quite dramatically, says N Jayakumar, president, Prime Securities.
Indian market seems to be returning what it had robbed investors off last year. With a strong rally, foreign investors too are following the Indian shores. However, N Jayakumar, president at Prime Securities feels that the market has not been able to capture the rise fully.
Nothing is going right for infrastructure companies at the moment. Yet, the levels to which the stocks have been beaten down, have made them attractive, N Jayakumar of Prime Securities, says in an interview to CNBC-TV18. Lanco, GMR and JP Associates are among the stocks that he sees value in.
N Jayakumar, Prime Securities is bullish on ABG Shipyard.
N Jayakumar of Prime Securities, in an interview with CNBC-TV18's Udayan Mukherjee and Mitali Mukherjee, feels that the market has been discovering different and new ways of making tops and bottoms. He also said that people are preferring commodities more than the stocks.