Crash was expected; stay calm and invested as market will revive soon: Sandeep Raina
Sandeep Raina, executive vice president — research, Nuvama Professional Clients Group, says he is not worried much about the market crash on Wednesday. A lot of people have made a lot of money in the market and something which has gone from one to five is back to four or maybe three-and-a-half. It is not something to be worried about because one, a lot of participants had already expected these kinds of things to happen.
Raina says: “I am not worried. Is it the bottom? I do not know frankly. Can there be further small cuts in the market? Possibly yes. But is it a case of there is nothing but a bloodbath going forward and we should sell the equities? Not at all. Just stay calm, stay invested. The market will revive very soon. That is broadly my take on the market.”
You have been around long enough to see many cracks and drawdowns like these. You deal with some of the best and the brightest minds in the market. What is the sense you are getting reading the data and talking in your circle of the kind of drawdown which you are seeing now? A large part of the market was expecting it already, wasn’t it?
Sandeep Raina: What I can say is this was very much expected. It is just that people did not know that it would happen in March. People were expecting this kind of market positioning from January onwards. It is just that it happened in March. I do not know if you remember exactly one year back in January and February when we had similar kinds of markets and nobody expected that in March 2023 we will make the bottom and
