Tuesday, June 22, 2021
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Monumental crash

The volatility index is causing concern and the BSE Sensex particularly volatile. What a monumental crash as if there is no other day in this world. China crash suddenly affected our market and everything looks gloomy and the investors have lost interest. In India nothing is happening, bills are not being passed, Parliament is dead and the proverbial “Acche din” is proving to be a mere mirage but China triggers stock slump.  We recovered early from China crackdown last time. PM’s addresses diaspora in US, Australia and UAE and cheer them endlessly, but there is gloom all around here. Will he cheer the poor investors back into action? The markets pull back from the morass and the hopes are dying down. It is a thousand dollar question whether RBI will step in to check the currency slide. Have we seen the bottom or still a long way to hit the pit? The days to come will test the patience of a prudent investor. It had to happen a fortnight back but our Market could recover fast after Shanghai equities plunged 7 per cent. Now, we have to wait and see whether the recent Chinese fluctuations will take further toll on our economy or stop there. Thus, choppy days are here again.

Subbu Jayant

(The views expressed by the author in the article are his/her own.)

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