Click to play videoMumbai: First down 173 points, then down 400 points and again down 404 points – that's the story of the BSE Sensex over the past few days.
And the rude shock comes just days after the Sensex crossed the 14k milestone during intra day trade, which was its fifth 1000-point leap in 2006.
Tuesday's crash was an all round affair and each of the 30 stocks in the Sensex ended in the red with some showing losses up to 6 per cent.
The Sensex slipped below the 13,000 mark and closed at 12,995 with a loss of 3 per cent, while the Nifty lost almost 3.5 per cent to close at 3716.
But market watchers are confident that the fall is just a small blot on the otherwise shining performance of the Sensex in 2006. They say maybe it is the sharpness of the fall, which will spook investors.
"When I look at the long term, I really do not see any problem. As far as the macro trends are concerned, I do not see any sell off for now to continue," said J P Sinha of Ambit Capital.
"Maybe it has been too sharp and too fast – that is what is worrying the people," said Deven Choksey of K R Choksey Securities.
It could be a case of too much or too fast or even both, but what the 1000 point fall has done is actually opened up a few windows of opportunity for smart investors to pick up bargains.
And with the Government also confident about the markets, there seems to be little for investors to be worried about.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest)
More on IBNLive Right Now
TOP NEWS
MOST SHARED
PHOTOGALLERY
