China using devaluation of currency as a constant policy tool is a big worry for India and a government response is needed to counter the impact on Capital Goods sector, bulk drug businesses, Consumer Durables, Tyres, and Indian exporters to Europe, says Ajay Srivastava, CEO of Dimensions Consulting.
Alarmed over the situation, Srivastava said one must pare down expctations unless the government takes some steps. Inspite of the downturn, investors in good quality stock will not get butchered. There are fundamental stocks that will perform and the advise is to "avoid speculation and return to fundamentals," Srivastava said.
The Sensex is down 111.47 points or 0.4 percent at 27754.62, and the Nifty is down 42.90 points or 0.5 percent at 8419.45. About 687 shares have advanced, 1534 shares declined, and 120 shares are unchanged.
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