Are you worried about the falling market and weakening of the rupee? Well, read through this article to know what you should do with your investments as well as spends in this scenario.
There is bad and terrible news all around for the small investors. The Sensex plunged by 1,625 points on Monday that is the biggest drop seen in over seven years. The Sensex and Nifty closed at 25,741.56 and 7,809 respectively. To be specific, it was a stock market bloodbath earlier this week.
Apart from these two aspects of the stock market, the value of rupee also experienced a free fall. From 59, it raised to 66.42 in the late morning deals as dollar demand continued. The rupee touched a fresh new low in two years in the early trade after a sharp drop in the global markers as the concerns related to the Chinese economy gripped everyone.
As per a majority of the market experts, the falling market is a good opportunity for the investors with a long term prospect. The Chief Market Strategist at Edelweiss Financial Services, Sahil Kapoor also revealed some inputs. He stated that volatility is to stay, but it will form an opportunity for the ones looking to get benefits from the long term growth in India. Furthermore, he claimed that it is good to let the volatility period subside and make use less volatile periods to create positions.
Regarding the dropping rupee value, it is better to invest in the overseas mutual funds as these will render better returns. The reason is it is the value of rupee that is getting weak against dollar, and so investing abroad is a good option to consider. In case, your family member is traveling abroad to study, you should make some arrangements in order to adjust to the impact on the market conditions.
