Stock Markets witness profit booking
Indian Stock markets got to taste the speed-breakers after zooming past the 9000 mark.
The sensex shed 170 pts. and nifty 55 pts. in a landslide fall. Huge selling was seen across the counters with investors seen cashing on to their gains of previous days. The Mid-cap and small cap index also fell by 2% each.
The current Scenario
Yesterday's selling can't be termed as abnormal. In a rising markets , bouts of profits bookings are a common phenomenon. However, to add spice to the fall was the unwinding of the December derivatives and the uncertainty on the Reliance post demerger scenario.
FII's have slowed down their pace of investments and the overall outlook for extreme short term has become bearish. FII's are also in holiday mood. The week ahead may see some more volatility.
Investment Guru's Outlook
Investment guru recommends investors to maintain their bullish outlook on the long term Indian Story. These downfalls are bound to happen in a market that is charting new territories. These downfalls should actually be used to build up positions in good stocks which are unnecessarily battered and hence will bounce back with improvements in sentiments.
Happy Investing!
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