Expect a bounce back for Indian market if there is stability in US markets, says market expert SP Tulsian

The drastic fall seen in the Indian equity markets today is disproportional to the global markets and could be the combined effect of our positive bias seen on Friday, where Nifty was up 5-6 percent and post that a big fall in US market, said market expert SP Tulsian of sptulsian.com.

Tulsian further added that if there is stability in the US market, the Indian market will also bounce back. “I am quite confident that once stability is seen coming back in the US market, we will also be bouncing back. If things peak out in the US in next 4-5 days, then probably we will see the stability coming back in our market also, maybe with a 5-7 percent rise seen on the index level in a day,” he said.

However, Tulsian does not expect the financials to recover soon. “I have been cautioning for the last one week because still people are unaware of the RBI measures or the kind of defaults which are going to be seen. I will not call it as default, but at least the installments and payments are likely to get delayed,” he said.