Crash fails to deter investors
Sensex recorded its steepest single-day fall since 2009 of more than 1,700 points in intra-day trade on Monday
Chennai: Monday’s crash seems to have a silver lining for some. Cashing in on the current drop in Sensex, more investors have started buying shares whose prices have plummeted G. Vijay, a marketing executive, who trades online, said that even though several people lost their money when the Sensex fell on Monday, numerous investors who had put their investment plans on the hold for about an year have now started buying shares as the stock prices went down.
“I would buy more shares, especially infrastructure, banks and information technology companies,” he told this newspaper. “I have shares in a top IT company and due to the fall in Sensex, I lost about Rs 10,000 yesterday (Monday) but today (Tuesday) I bought more shares to compensate the loss, as the price dropped now,” V. Ramesh, a software professional said.
The Sensex recorded its steepest single-day fall since 2009 of more than 1,700 points in intra-day trade on Monday.
Terming the present trend as knee-jerk reaction, investment expert Nagappan Valliappan, said that this does not reflect the Indian economy. “Market saw an upward trend for the past one year, as people had anticipation in the government and now correction is taking place. Now it’s a buyers market, they have started buying as the Sensex tanked and prices have gone down,” he said.
( Source : deccan chronicle )