Nirav Y Joshi, 29, a senior HR executive with a multinational and a retail investor, who is investing in the stock market for the past six years is bullish despite the fact that economic growth has slipped below 7%.
"The worst is over. In the present situation, India is the second fastest growing economy and there are clear indications from the RBI that there is a rate easing ahead so I am optimistic about future," said Joshi who is bullish on automobile, banks and capital goods stock.
"GDP numbers are the reflection of successive rate hikes by the RBI in the past and stock market had already factored in the slowdown," said CJ George, managing director, Geojit BNP Paribas Financial Services. "Now the chances of a rate cut are higher which augurs well for the economy and stock market."
However, some other investors are little cautious. "I am not going to exit any stocks that I have but will tread cautiously and not buy anything unless I see clear indications that the stock exchange is performing well," said Mitul Madia, 35, another retail investor.
Experts suggest cautious approach for retail investors as market direction will be set by events such as election results, monetary policy and budget.
"Retail investors should stay invested and be cautious as there are some crucial events such as UP election results, monetary policy and budget in the coming weeks," said Rikesh Parikh, VP (equities), Motilal Oswal Securities.
Meanwhile, the BSE Sensex erased initial gains of 250 points in the early trade on weak GDP numbers and closed just 22 points up at 17,753.