‘Investors should book profits and get out of the market for the time being’.

New Delhi: After the market crashed by 1,708 points and subsequently picked up on Friday ending at 48832.03, “bears” opined that the investors should book profits and get out of the market for the time being until the situation improves at a future date.
Ambarish Baliga, a market expert who is bearish on the market, told The Sunday Guardian, “It is quite uncertain. With Covid-19 spreading in the country and lockdowns being announced, I am not sure whether the economy will recover at the rate expected. If the market shows a rally like this, then one should utilize it to book profits. We have seen yields increasing, volatility increasing, currency depreciating and IT is not performing as per expectations.”
Others disagree. Deven Choksey, Managing Director, KRChoksey Shares and Securities Pvt Ltd, told The Sunday Guardian, “Some heavyweights stocks, particularly in the banking space, are getting affected. It is happening because the market is, by and large, operated by institutional traders. As a result of this, the market is witnessing a sharp fall. I am not concerned about it. I am concerned about the derivative markets and that is affecting every one of us.” He further said, “Fundamental features indicate that we can remain bullish.”
Ambarish Baliga wanted the government to do more. He said, “The government should focus on infrastructure in order to revive the economy,” added that: “they have been doing it for a while.” “However, a complete lockdown is not a solution. This will render more people jobless.” Meanwhile, record inflows of foreign investment continue, as does the upward movement in GST collections.