Sensex down, is it time to buy?
The 30-share benchmark BSE index, Sensex, on Wednesday fell 298 points, or 1.8%, to close at 16,030, its lowest level in over four months. HT reports.business Updated: May 16, 2012 22:24 IST
The 30-share benchmark BSE index, Sensex, on Wednesday fell 298 points, or 1.8%, to close at 16,030, its lowest level in over four months, after the sentiments were hit by the rupee depreciating to new low and Greece announcing to hold new elections denting the hopes of early solution to euro zone debt crisis.
Experts said that its good time for those who have high risk appetite while other can invest via mutual funds.
“The downward spiral might continue for some time,” said Jagannadham Thunuguntla, head of research, SMC Global Securities. “Those who have risk appetite can come and invest. Others may take the mutual fund route.”
Sensex, which made a brief recovery on Tuesday after five days of straight losses, fell to 15,974.60 levels in intra-day trade as foreign funds remained net sellers.
The 50-scrip National Stock Exchange index Nifty dropped 85 points, or 1.7%, to 4858.
“It is a good time to buy provided you have courage to withstand the fall,” said Deven Choksey, managing director, KR Choksey Shares and Securities. “Good times will certainly come.”