Market Guru in talk with RJ Salil Acharya of Radio City: People can invest in ICICI Bank, SBI and HDFC Bank, says Anil Singhvi
Anil Singhvi, Managing Editor, Zee Business, says the markets will try to balance itself in October before the US elections. That’s why people should not be afraid and invest gradually in the market. During a candid radio chat with RJ Salil Acharya, Radio City, 91.1 FM, Mumbai, Mr Singhvi said, one can invest in big banks, like ICICI Bank, SBI and HDFC Bank, as they are at attractive levels
Anil Singhvi, Managing Editor, Zee Business, says the markets will try to balance itself in October before the US elections. That’s why people should not be afraid and invest gradually in the market. During a candid radio chat with RJ Salil Acharya, Radio City, 91.1 FM, Mumbai, Mr Singhvi said, one can invest in big banks, like ICICI Bank, SBI and HDFC Bank, as they are at attractive levels.
Mentioning the current volatility in the market, RJ Salil said, a lot of ups and down has been seen and I feel the stock market gives us a sense about the global tension and the local tension. And this week, a lot of questions have been being asked about China and India at the international level and the farmers’ issue and diesel prices, which has gone down slightly, at the local level. He asked Mr Singhvi about his opinion on the market for this week.
To which Mr Singhvi said, the first word you used was up and down (volatility) and I would like to say what will happen if we will have to undergo an ECG - I pray it should not happen with either of us – then what will you chose for a flat line or ups and downs. The up and down movement in the ECG means we will keep going, while things will turn wrong if it turns flat.
The market is the same thing, the volatility acts as an ECG for it. The ups and downs of the market keep us intact with it and generate interest towards it. But it will fail to attract our interest towards it if it turns flat and starts moving in a single direction. He added, the volatility will continue for some more time from here because of certain reasons
The global markets are quite volatile at present and it will affect us.
There is some good news related to border tension. The two countries have agreed to not escalate the tension, further. They have also agreed to not increase their troops on the border, which is a piece of good news.
September is about to end and it will be followed by October. I feel the market will try to balance itself before the US election. So, do not be afraid or panic about things, there has been a slight correction in the market and this is the right time to buy here. Invest gradually in the market as there is nothing to worry about. Much risk of fall is not available at present, it is a different thing if it falls but a good support level is available here.
When asked what should be bought in the market then Mr Singhvi suggested that one can invest in the banks because the banks and NBFCs have fallen a bit. Therefore, one can think about big banks, like ICICI Bank, SBI and HDFC Bank, as they have reached to an attractive level and here one can buy them.
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Market Guru in talks with RJ Salil Acharya of Radio City is a 12-part series of interviews on stocks market.
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