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Edelweiss CEO Radhika Gupta's ‘don’t dread' message for investors: 'It's stock market correction, not crash'
The Edelweiss Mutual Funds' boss said that investors should not exit all their mid and small caps.
Edelweiss Mutual Funds CEO Radhika Gupta said that the stock market is undergoing a correction and not witnessing a crash as she urged investors not to panic and "dread the red". Make corrections instead, she said on Instagram.
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"I always say it's called correction not crash because correction corrects our behaviour and it corrects our expectations. Corrections are a part of the journey of investing. So hold tight and stay invested," she said.
She also said that corrections are normal and that she has witnessed "crisis after crisis" in her 20 years of investing.
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Should investors exit all their mid and small caps? The Edelweiss Mutual Funds' boss said, "No, even if you make asset allocation mistakes and not all mid and small caps are mistakes, this is not the time to fix them. Let things calm down and you will have time to review your mistakes but a storm is not the time to review your mistakes."
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Is buying more equities the right thing to do? Radhika Gupta replied, “I always say that don't take too much action when you are in a panic. If you're comfortable you can always buy more equities but don't feel the need to take a lot of action in any difficult situation.”
On Tuesday, Indian benchmark indices ended marginally lower in the highly volatile session and Nifty was below 24,000. At close, Sensex was down 0.16 per cent at 78,633 and the Nifty was down 0.26 per cent at 23,992.55.
