Indo-Pak tension sends market crashing; D-St veterans say go buy stocks! ICICI Pru Life slumps 11% on debut

ET Markets Daily Brief | Thu, Sep 29, 2016 | 06:27 PM IST Follow ET Markets

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As tension on Pakistan border sends market crashing, veterans say go buy stocks  Nilesh Shah, MD of Kotak MF, said the market crash was not going to impact long-term investors. Instead, investors should use the dips to enter the market. Midcap, smallcap stocks bleed most in knee-jerk reaction to India strike on Pak terror base Many analysts had been raising eyebrows over the premium many of the second-rung stocks were quoting at over largecap stocks after the recent market rally. Indo-Pak tension makes Dalal Street nervous, veterans say disruption will not last long Disruptions in the market due to the regional geo-political tensions would not stay for long. The markets are jittery but won't have sustained negative sentiment.

Interview One to One "My advice to customers will be today irrespective of whatever your positions are, wait it out, no point getting out ... Ajay Srivastava , Dimensions Consulting

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Market Watch 29 Sep | 06:27PM| SENSEX NIFTY USD/INR GOLD 27827.53 ↓-465.28 8591.25 ↓-153.90 66.85 ↑0.39 31027.00 ↑72.00

Gainers Losers 29 Sep, 2016, 06:27PM IST, PTI|View All Company Name Live Price Change (%) Volume High Low Camson Seeds Ltd. 24.75 19.85 167953 24.75 21.00 Borosil Glass Works Ltd. 5109.00 15.77 16247 5295.70 4351.35 Ankush Finstock Ltd. 14.40 14.29 9150 14.50 13.00

Tweet of the day...  October best for FII flow into D-St: Which stocks can shine on better dollar flow

FROM THE NEWSPAPER

BLOG: Look what happened in your market all through Wednesday Rising tension between India and Pakistan had a rub off on financial markets with the equity benchmark Sensex tanking 500 points. All but two stocks are in red. ICICI Pru Life slumps 11% in debut trade The stock plunged by Rs 36.35, or 10.88 per cent, to settle at Rs 297.65 on BSE. On NSE, the scrip ended at Rs 296.45, down 10.17 per cent. Have patience! ICICI Pru Life cannot be multibagger, but still a strong buy  Insurance is all about being patient, and the same logic would apply to ICICI Prudential, which promises steady returns if investors stay put on the stock. Sebi goes on alert on markets, Rupee sees biggest plunge since Brexit vote Sebi has asked stock exchanges to draft contingency plans. The stock exchanges are given time till evening to submit detailed report on the matter. Follow all the market action @ETMarkets

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