'At The Risk Of Sounding Lunatic:' Why Safir Anand Thinks Today Was Best Opportunity To 'Buy The Dip'

Author, Lawyer and Investor Safir Anand took to social media platform X (formerly Twitter) to express his views on the market crash that took place on Tuesday.

What Happened: Anand said that today was probably the best day for investors to buy the dips. “At the risk of sounding lunatic, I feel today was perhaps one of the best days to buy the dip,” he said in a tweet.

He added that he also bought several stocks that have faced the brunt of the markets today. “Again at the risk of much pain, have added beaten down bashed up black-eyed stocks,” he wrote.

Markets Crash: The Indian stock market witnessed a severe downturn on Tuesday. Major sectors like banking, realty, infrastructure, and oil & gas experienced steep losses, with some falling over 10%. State-owned companies and banks were particularly affected, dropping upto 17% and 16% respectively. However, the Nifty FMCG sector bucked the trend, rising by over 1%.

This extreme market volatility caused the volatility index to soar to its highest point in over a year. The benchmark Nifty index suffered its worst single-day drop since the onset of the COVID-19 pandemic in 2020, plummeting as much as 8.5% intraday.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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Posted In: Social MediaOpinionMarketsGeneralSafir Anand