The steep plunge in the stocks from the mid-cap, small-cap and SME space has sparked panic amongst investors.
“मिडकैप-स्मॉलकैप का हाल बेहाल ? ये गिरावट क्यों और किस स्पेस में सबसे ज्यादा बिकवाली?,” TV anchors were asking the experts on their shows. However, the experts were also clueless about the state of affairs.
मिडकैप-स्मॉलकैप का हाल बेहाल ?
ये गिरावट क्यों और किस स्पेस में सबसे ज्यादा बिकवाली ? @YatinMota #Midcap pic.twitter.com/cFHGKJVKiQ— CNBC-AWAAZ (@CNBC_Awaaz) October 23, 2023
Ashish Kacholia, whose portfolio of Rs 2000 crore+ comprises exclusively of small-cap and SME stocks, was amongst the worst affected by the savage fall.
“Dabba gul, Doston! Waat lag gayi…aaiii ggggggggg. Kya dhulaayi ho rahi hai subah subah,” he said to his followers, who were also badly affected by the correction.
Dabba gul, Doston! Waat lag gayi…aaiii ggggggggg. Kya dhulaayi ho rahi hai subah subah
— Ashish Kacholia (@LuckyInvest_AK) October 23, 2023
#CNBCTV18Market | #Midcap index slips to lowest level in nearly 2 months, set to post biggest single-day fall in a month pic.twitter.com/6T8iWQdWPG
— CNBC-TV18 (@CNBCTV18Live) October 23, 2023
“Is subah ki raat nahi, Mitron!!🥃”, he added, changing the order of words for the sake of levity.
Is subah ki raat nahi, Mitron!!🥃
— Ashish Kacholia (@LuckyInvest_AK) October 23, 2023
He later counselled his followers to hang in tight because the correction may soon be over.
“Bear market corrections are generally short. Next few days will show us the way forward,” he said in a soothing manner.
It was a brutal day but bear market corrections are generally short, sharp and brutal.
Next few days will show us the way forward— Ashish Kacholia (@LuckyInvest_AK) October 23, 2023
He also counselled his followers that it is the nature of markets to shake investors’ confidence and force them to liquidate all their less-conviction holdings.
“Bull market corrections are short, sharp and vicious enough to shake your confidence and force you to liquidate all your less-conviction holdings. Almost kind of a bear market doomsday and a barrage of phone calls from friends…market kyun gir raha hai Well, this is just the nature of markets,” he stated.
Other experts like Vijay Kedia suggested that we use the opportunity to buy our favourite stocks. “Buy when there is blood on the streets,” he said, echoing the timeless wisdom of Warren Buffett and Peter Lynch.
