Indian markets on Monday witnessed a massive sell-off after being dragged by banking & financial stocks and auto sector. The ongoing Russia-Ukraine tensions have spooked the markets as crude oil prices hit their multi-year highs. On the back of high volatility, the Sensex was down by over 1750 points and Nifty50 falls below the 15800-mark.

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Most the of analysts see the domestic market entering bearish territory, amid global turmoil and as we end assembly elections in five states on Monday. The results of polling will be announced on 10 March (Thursday) results scheduled in this week. The higher commodity prices are hinting to an inflationary pressure and may also disturb the fiscal math of the government for FY23.

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At around 02:15 pm, the Sensex slipped to day's low level, trading at 1751 points or 3.2 per cent lower to 52581-level, while Nifty50 also declined over 496 points or 3.05 per cent lower to 15750-mark on Monday. While broader markets are following the benchmarks suite during today’s session.

We have collated views from different experts as to what investors should do amid heavy sell-off:

Expert: Anuj Gaur, Director of IBBM (Money maker India Securities)

Markets are very volatile and taking very wild moves nowadays due to war situations and upcoming election results. VIX is running very high which is an indication that the market is in a puzzling mood and can react aggressively to either side.  

For traders it is good opportunity to take advantage of high VIX in the market, on the other side, for long term investors, all defense sector stocks, steel stocks, IT stocks and FMCG stocks will be a good bet for long term once war situation resume and become normal, these industries will react positively faster than other industries.

Expert: Ravi Singhal, Vice Chairman, GCL securities Limited

Today's fall is due to news that the US can ban crude supply from Russia. According to Singhal, it is not a time for new investment until this war situation is settled, but long term investors no need to worry about it. As Warren Buffett once said that he will not sell equity in case of war, even if the conflict escalated into World War III.

Ukraine is retaliating harder than anyone expected, and Putin has also said that it can go longer. So, it can take another 20-30 days to settle the situation.

Expert: Dr. Ravi Singh-Vice President and Head of Research-ShareIndia

The benchmark indices are on massive selling due to an escalation of war by Russia which is not only impacting the gold and crude but overall commodities prices worldwide. New sanctions against Russia have triggered huge jumps in gold and crude prices. 

In this scenario when the economies were already struggling to keep the pace of recovery, the fears of stagflation also started to creep in, with concerns over high commodity prices impacting inflation and slow growth. All these factors are impacting the markets worldwide and investment outflows. 

Nifty may touch the level of 15500 in near term with a strong prevalent bearish trend. Investors may remain cautious and follow a wait and watch strategy for the time being. Any fresh positions need to be avoided till the sentiments and situation stabilizes.

Expert: Pankaj Pandey, Head – Research, ICICI Direct

On the equity market outlook, while we believe volatility will remain in the near term till there is clarity over cessation of this attack, the recent correction gives an opportunity to the long term investors to load up on quality companies with sustainable growth visibility.

In the near term, Metals, IT, Pharma would be the key resilient sectors. On the medium term, we continue to remain constructive on domestic capex linked capital goods and allied space and PLI oriented domestic manufacturing plays.