Equity investors lost Rs 50 lakh crore in 35 trading sessions amid the ongoing selling on Dalal Street. The combined market capitalisation of BSE-listed firms tanked to Rs 428.67 lakh crore in the morning trade on November 18, 2024, from Rs 478.
93 lakh crore on September 27, when the benchmark equity index BSE Sensex scaled its all-time high of 85978.25. The 30-share index traded at 77,239 on Monday.
Meanwhile, foreign institutional investors (FIIs) sold shares of more than Rs 1.15 lakh crore during the same period, the rupee hit a new low, and Donald Trump won the US presidential elections. What do all these developments mean for Indian equity markets and is it the right time to buy large caps? In an exclusive interaction with Business Today, Amar Ambani, Executive Director, YES Securities said the last three years were a different ball game, a relatively easy ride for investors, as almost every scrip across sectors was part of the rally.
It was only a question of what went up and by how much. “At this juncture, we are more likely to see a marked divergence: of drawdowns in certain themes and stocks, and buoyant performance in select propositions. We can say with conviction that companies with growth visibility and professional management will do well, provided their valuations are not sky-high,” he said.
For stock-specific investors, he shared that real estate is a compelling multi-year story. Demand is strong across affordable and luxury segments, and realty sales are .