An update on the Indian Stock Markets
Last Friday turned out to be the Black Friday for the Indian stock markets! Indian markets were down about 4% odd. This has happened for the first time in 4 to 4.5 years.
Yesterday we saw another 300 odd points drop in Sensex and 100 odd points on NIFTY.
NIFTY returns since 1st Jan 2013 till date:
Rupee reached a lifetime low of Rs 63.3 against dollar. Sterling Pound is waiting to hit a century against Indian Rupee.
A Economic Times report stated that more than 50% of the stocks on the BSE are available for discount to it’s book value. But it also cautioned investors to invest in stocks with sound fundamentals.
Another ET report has stated that analysts expect the rupee to be in a range of Rs 62 to Rs 65 against dollar till December this year and expect the Sensex to be in a range of 18K to 19K.
More over FII’s are pulling out money from India, this is one of the major reason of concern.
Government is taking some measures but they are not just enough to revive the economy.
So what’s your strategy now? Buy, Sell or Hold?