There was a bloodbath on Dalal Street on Monday as multiple headwinds hit global and domestic investors alike.
In intra-day deals, the 30-pack Sensex index plunged over 1,800 points to hit a multi-month low of 55,132.
Retail investors can use the corrections to buy high quality stocks, particularly financials, whose valuations have become attractive,” said V K Vijaykumar, chief investment strategist at Geojit Financial Services.
Since October, FPIs have sold shares worth Rs 32,965 crore in the domestic market.
The domestic currency continued to extend its weakness against the greenback amid heavy demand for the US dollar.
Shares in Asia-Pacific were lower in Monday trade, with China slashing its benchmark lending rate for the first time in more than one-and-a-half years.
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