Stock markets globally have taken a sharp U-turn and are plunging southwards. The trend was imminent with the emergence of subprime crisis in the US, even though there were desperate measures in the form of rescue packages and plans to write-off debt, in some cases. As a fallout of the tumbling US economy, the global investors had started looking at Asian markets, hoping to find the much needed growth economies.
The Indian market had been performing exceptionally well, backed by strong fundamentals and a booming economy. Over the last two weeks, share prices have fallen so fast that an attempt at a rally seems challenging. The market seems to be taking cues from the global exchanges, which are going into the red. Today has been another day when markets hit rock bottom.
For me, this is the perfect buying opportunity!
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