Has the market bottomed out? With the benchmark index, the S&P BSE Sensex, having fallen 20 per cent from its peak recorded in January 2015, the question on everyone's mind is whether the market will rebound or there will be further pain. A sharp correction in the past three weeks has raised the prospects of a bear run on the Dalal Street, which means poor returns for equity investors for some time. A bearish spell on the Street is, however, also an opportunity to load-up on top quality stocks at low valuations. So, should investors open their wallet to make select purchases or wait for further downside? Experts remain divided. Saurabh Mukherjea, chief executive officer (CEO), institutional equities, at Ambit Capital, believes the bottom for the market will be around 22,000 on the Sensex. This translates into a further 10 per cent decline in the benchmark index from Friday's close. Adding: "If the Sensex hits 22,000, its price to earnings (P/E) multiple will ...
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