BSE Sensex recovered on Tuesday after a steep single-day fall on Monday
BSE Sensex gained 1.22 per cent and Nifty is up by 1.37 per cent
Chennai: Monday’s crash seems to have a silver lining for some. Cashing upon the current drop in Sensex more investors have started buying shares as the prices have gone down.
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 IT companies,” he said.
“I have shares in a top IT company and due to the fall in Sensex I lost about Rs 10,000 yesterday but today 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 a 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 has seen a dip and prices have gone down,” he said.
The BSE Sensex recovered on Tuesday after a steep single-day fall on Monday to close at 26,032.38 points up by 290.82 points. The Nifty gained 71.70 points to close at 7,880.70.
( Source : deccan chronicle )
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