Blood on the street

Finally after a lot of dithering, the global markets caught the sub-prime flu and what a crash it was. India was the worst performing market today. Almost 1400 points (7%) down in a single day. None of the stocks were spared. Every sector was in the red.

bse

Now is the time for bargain hunting. Whoopie. Am gonna buy now. FMCG, Pharma, Banks, Infrastructure, Finance, Real Estate, everything is damn cheap now. Nothing has changed in a day or two. The India growth story is intact. The fall was more of a sentiment thing regarding the sub prime crisis in the US market and also the market has been going up almost daily. A correction was inevitable. Yes, a portion of my portfolio is in the red, but then Iam not concerned, cos am here for the long term.

worried investor

I know it wont be prudent to say, but i wish for more such days. Now is the right time to buy. Like the pundits say

Buy when everyone sells and sell when everyone buys.

Above pictures courtesy: Rediff

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No comments

  • JV

    I too have found opportunities in the crash and share your optimism for the Indian economy. However, it will take some time to settle for the disturbed water. Long term players are not required to worry.

  • Liju Philip

    Ramesh, yup a great time to buy.

    JV, thanks for dropping by. This crash will only affect the day traders. For long timers, its a good time for a fire sale.

    Dinsan, of course it was just a matter of time before this crash happened.

  • Vineet Kumar

    I purchased power grid and its going big mistake for me. but the overall thing is that the big investors loss that money which they didn’t actually earn, so small investors are really facing bad time. And I dont feel it will stop soon.