What effect will Evergrande have on Indian Stock Market?
By this time around we all probably know about the Evergrande debacle that has unfolded in China which in short term is similar to the situation the US faced in 2008. Basically one of China's Real Estate Giant is on the verge of defaulting and with an amount of over 300 Billion Dollars so you can obviously imagine the panic in the markets. China's benchmark index fell a lot and people in India are now worried as to what the effect of this would be in India. If that was not enough even US Stocks entered the red zone a little which also created more panic for us in India. My own portfolio dropped by 1 percent and even though the amount was big I saw this as an opportunity and bought the stocks that were in Red in my Portfolio. But sadly a lot of people did get scared and the Indian Stock Market also saw a slight red.
It was pretty evident that there were a lot of people moving their money out of the Stock Market and that is never a good sign in short time, people were expecting a crash like the 2008 but I believe that there will be a dip but not that big. Further, I feel like MNC's will take out their money from China and might look for other countries as Investments, and India might be one of those other countries as India is a developing nation.
Now as for me I will be looking into this as a buying opportunity especially for some IT Stocks which I have been looking to buy for a long time. So if you have some extra cash lying around then you might get your shopping list out and see which stocks you like that are now going for discounted prices and get hold of some of them.
Posted Using LeoFinance Beta