Brexit Fallout: Don’t stay out of market

I was watching CNBC and heard one expert saying “Investors should stay out of market when such a position (Brexit) happens…..blah, blah…….”

But according to me it’s the best time when you can buy wonderful companies at wonderful (cheap) prices.

I put my money on Tata Steel exactly at 300.

Why?

It was the top loser at that time.

I was lack of fund (I already have my many invested in many stocks) but still I sold Cipla to but this share at such a great drop.

Stats of Tata Steel are as follows…

  • Prev close – 333
  • Open price – 307
  • My buy price – 300
  • It’s current price (3:00 pm) – 314

There were many share in the list of top losers…..

  • Tata Motors
  • ICICI Bank (I was also thinking to buy ICICI but I already have this share in my portfolio bought at 216)
  • Axis Bank
  • Larsen
  • So on….

All are great buy at respective prices.

Also try to stay away from govt owned stocks at such situations.

Now let’s look over the reason – Why Tata steel dropped so much?

We all know that – BREXIT (exit of Britain from Europe Union)

Especially, Tata Steel was affected the most from this because….

And I was waiting for this movement since last 2 days, when I heard this news….

I also invested in Motherson Sumi at 276 by selling SBI from my existing portfolio.

You can see the position, per share gain/loss, % change of my orders as follows.

So I presume, that’s enough to clarify “Buy Top Losers Sensex Shares”.

  • D.J. James

    Well the the decline in Motherson Sumi to Rs. 275 is aptly justified. People along with institutions and fund managers had been buying it along with Tata Steel driving the price to 300+ in hopes of Bremain (wow is that even a word) so it could appreciate after the good news but alas their hopes were crumbled.

    Also the current market price accounts well for the loss in revenue from the inability to access rest of europe freely and additional costs of setting up of supply chains.

    • You’re right but Indian and British government are working on how they can manage the situation. Market will get recover in few days.