Stock Market Today: On account of rise in Coronavirus fears and negative foreign institutional investors, the Indian share market crashed to the tune of over 8 per cent in the Opening Bell trade session. The BSE Sensex crashed 2825 points and hit 29,952 levels while NSE Nifty nosedived 966 points at 8,624.05 levels and hit the lower circuit. Bank Nifty dipped 2391 points while trading at 21,579 levels.
Speaking on the stock market crash Hemant Sood, Managing Director at FINDOC said, “Stock market is witnessing a bloodbath with Sensex and Nifty going down to multi-month lows leaving investors struggling to find the right stocks for investing. There is a bearish sentiment in the market, hence, it is important that investors do not get hassled at the moment and wait for the right opportunity so that the capital does not get eroded. The forced halt in stock-market activity, driven by a coronavirus and a geopolitical fight over oil, has proved wrong all algorithms of professional traders and investors.” Sood said that a pause is helpful for an average investor, who can either be scared and make losses or sit tight in the present situation.
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“It is suggested to contemplate and take a deep breath and then ask yourself, Is there any change in your long-term goals?” If the answer is no, one should ignore the market volatility.The other option for the investor is to park funds as the markets are down, and when the markets start moving upward an investor can identify momentum stocks and invest in them,” said Sood.