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NEW DELHI: As the Indian stock market marked its worst week in over two years, the mood turned somber on Twitter too.
The BSE Sensex shed 5.1 per cent during the week gone by while its NSE counterpart, Nifty, ended 5.6 per cent lower.
Midcaps and smallcaps were among the worst hit.
The fear was there all over Twitter.
The question that haunted most investors was, for how long will this market crash play out.
Investors were counting on the Reserve Bank of India to provide a balm to the sliding rupee.
Alas! The central bank surprised one and all with its indifference to the plight of the rupee, which became a source of huge disappointment for most investors, leading to intensified selling on Dalal Street.
Dalal Street mavens mostly stayed on the sidelines and had only one advice to offer – stay put.
Let's jump straight into what’s buzzing in D-Street biggies’ Twitter posts:
Vijay KediaThe highly acclaimed and renowned Dalal Street name has one simple tip to offer: “Nothing stays forever.” Replying to a fellow Twitter user, he asked him to switch off the TV and not look at stock prices for now.
Shyam Sekhar of iThought, too, had something similar to say, “The pain will go away via an Instagram-inspired stock image.”
Basant Maheshwari, whose favourite hashtag is #TheThoughtfulInvestor, also tells you to hold tight.
Besides the market crash, the other highlight of the week was definitely the Rs 2.50 per litre cut in petrol prices.
Although it came as a relief for the common man, it did not bode well for the oil marketing companies as they were asked to bear the burden of Re 1 price cut.
Guess who took a dig at the OMCs Yes, Samir Arora.
Check out what he had to say:Sandip Sabharwal, an independent advisor at asksandipsabarwal.com, reiterated his stance to hold the OMCs and also condemned the government decision.
In a series of tweets, Sabharwal expressed both disappointment and anger over this move.
Like we always do, let me wrap up this week's piece with some ‘contra-investing’ tips and advice from Shyam Sekhar.
Happy Reading!
