The Indian equity markets slumped further today with both Sensex and Nifty trading at multi-year lows from the recent record highs. The US stocks too deepened their selloff on Wednesday and the Dow erased virtually the last of its gains as the widening repercussions of the coronavirus pandemic threatened to cripple economic activity.

Share Market Live

NSE

Discussing the impact of all this and the right way to approach equity markets, Samir Arora, founder of Helios Capital said right now there should be no approach towards equity markets not only because it looks like 2008 but also because of non-economic reasons that is health reasons and personal health issues. "People are worrying about all those things. There is no need to try and find the bottom,” he said.

“We have seen in 2008, how the markets fell 50-60 percent and that time there was only one issue, but now there are many issues. There is no bargain buying,” he said in an interview with CNBC-TV18.

“This perpetual desire to find a bottom in the market and invest in the bottom is not necessary. The point is we have to worry about bigger issues right now and one big issue is that our system takes too long to react,” said Arora.

However, some switching can be done and we are doing that, he said, adding that it is also not easily happening.

"We still feel that the recovery whenever it happens will happen first in the stronger companies, it will happen in the companies which are less leveraged, it will happen in the more obvious names. This is the downside of the ETFs, which have taken over the world,” he further mentioned.