Sensex Ends 298 Points Lower As Banking Stocks Slide; Yes Bank, IndusInd Bank Slip 5%

Indian share markets witnessed negative trading activity throughout the day and ended lower. At the closing bell, the BSE Sensex stood lower by 298 points (down 0.8%) and the NSE Nifty closed down by 79 points (down 0.7%).

The BSE Mid Cap index ended the day down by 0.9%, while the BSE Small Cap index ended the day down by 0.6%.

Sectoral indices ended on a mixed note with stocks in the banking sectorfinance sector and realty sector leading the losses, while telecom stocks and energy stocks witnessed buying interest.

The rupee was trading at 71.01 against the US$.

Speaking of the volatility witnessed in Indian share markets lately, if you look at the stock market returns over the years, you will see that the markets have never moved in a linear fashion.

What do I mean by that?

It has never been a one-way street - only up or down.

Stock markets have always moved in cycles.

The Time to Buy Stocks is Now

 

Here's what Radhika Pandit wrote about this in a recent edition of The 5 Minute WrapUp...

  • If you would have bought stocks when either the Sensex or the Smallcap index was in a downturn, you would have made big returns once the cycle turned and the bulls took over.

    Sarvajeet and I believe we are seeing a similar situation currently.

    The economic slowdown does not herald the end of the world or for that matter the end of India. It's a phase and like all phases - This too shall pass.

So, the real question is - Are you taking advantage of these price declines to buy quality stocks?

Also, amid such volatile times in stock markets, Richa Agarwal reveals her investing strategy in the video below.

She also talks about the type of small-cap stocks she is looking at during such times. Tune in...

In the news from the macroeconomic space, Moody's Investors Service cut India's gross domestic product (GDP) growth forecast for 2019-20 to 5.8% from the earlier estimate of 6.2%.

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