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Market crackdown due to correction from overseas market, says Ajay Srivastava of Dimensions Corporate

Updated : March 27, 2019 03:59 PM IST

Stock market guru and chief executive officer of Dimensions Corporate Finance Services, Ajay Srivastava on Wednesday said market crackdown was due to correction from the overseas market.

Srivastava said, "If liquidity dries up, we will see a lot more domestic sales. So, I think it is just a function of how much buying will take place between today and tomorrow, will determine where the market will go in the next week."

"If you look at big consumer stories like Maruti Suzuki, the company had a dramatic fall, so tractor and automobile companies also. Private banks were the clear winners in this game and a few retail companies like Titan and Bata India. So if you look at the winners, by and large, there is a very select group including Reliance Industries Ltd (RIL), which is led by the winning pack. However,  the private banks have led this rally with the aide of 5-10 or at the best 15 companies," Srivastava said.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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