Can’t rule out a 5-10% correction in markets: Abhishek Basumallick

Benchmark equity indices trimmed morning losses and came off the day's low at over half time. While the Sensex was down 80 points, recouping losses Nifty 50 held above 17,350. Abhishek Basumallick from IntelSense spoke to Money9 to share insights on what to expect from markets going forward. "One can never rule out 5-10% correction at any point in time in markets. We have seen sector rotation taking place so far which has kept the markets on the up move. Investors who are in for long term and are invested in markets with funds they don't need in near term and are invested in good business need not worry about a fall," he said. He also said that it is very difficult to time the markets and sitting out in anticipation of a correction is not advisable. Instead he suggests investors should just be focused on individual stocks and fundamentals.