The Indian stock market continued to fall on Thursday, March 12, led by global equity selloff and rising oil prices amid the Middle East crisis. The benchmark indices Nifty 50 dropped 310 points intraday to below 23,600, while the BSE Sensex fell nearly 1,000 points to below 76,000 for the first time since April 11. D-Street has been on a correction phase due to the current geopolitical headwinds, especially the volatility in crude oil prices.
Is it the right time to invest?
Amid these global uncertainties, Vinay Jaising, CIO and Head of Equity Advisory at ASK Private Wealth answered the question on whether it is a right time to invest capital in the markets. Speaking to NDTV Profit, Jaising noted that it is the right time to invest, however investors must be cautious about the choice of stocks.
"We think the timing is right. But you've got to be clear, you can't be buying the same stocks. Certain changes have to be made. You know, if you had an exposure to crude oil as your raw material, those questions have to be addressed. If you had exposure to hotels, if you had an exposure to airlines, you may want to time those spaces better," he said.
'Tweak Your Portfolio'
Jaising suggested investors to check the routes from where companies are exporting goods and its link to Strait of Hormuz. Concerns over supply disruption arose after Iran closed the key connectivity point amid the ongoing conflict in the Middle East.
"You will look at a lot more domestic names, or look at those names, wherein you have routes wherein if you're exporting, it doesn't go from the Strait of Hormuz, it goes the other way around, even if it were to reach the US. So you have to have some tweaks in your portfolio," he said.
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A Buyer's Market
Jaising further advised, "You've got to be a lot more constructive in what you're buying. This is a buyer's market, not a seller's market. So this is not a time for us to sell stocks because you know you're seeing everything fall. This is the time if we have the cash, or if we can deploy money, you know we will get golden nuggets which are available a lot more cheaper, we've got to look at picking those up."
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