Mumbai: Bears met the bulls head on at the stock exchanges and the result was a disaster. Bears scored a knockout within the first two minutes of trading, when the scorecard showed the Sensex 500 points in the red.
Corporates and analysts tried to shift the blame to the global scenario to rationalise the freefall.
MD and CEO of Edelweiss Capital Rashesh Shah said, "If you see the fall today, it is co-related with the fall in the international markets, thus portraying the global focus affecting the Indian markets. If you evaluate the markets on a consolidation and a long-term basis, it would not look bad."
Rajat K Bose of rajatkbose.com said, "Generally in Aprils we have a 1,000 points ups and downs. Even last year we had one these things, tell us that the up trend is in danger, but it is too early to say that the bull market is over. But definitely there is some concern."
No sector was spared in the bloodbath. But inspite of the collapse, die-hard optimists pointed out ways to take advantage of the situation.
MD and CEO of Edelweiss Capital Rashesh Shah said, "The idea is to find good stocks, sectors and opportunities and use the volatility to your advantage when the market is down and you can buy good long -term stories but the advise is to have a good three year view on your investments".
The first four days of the week have seen a ride, which rivals the best on offer at amusement parks. Friday will be the last chance for the bulls to hit back and bring some relief to investors who have lost a few lakh crores this week.