‘Waiting to buy the dip’: How netizens reacted to bloodbath at D-Street today

Soon after the bloodbath on the Dalal Street for the seventh consecutive session, the netizens decided to share some rib-tickling memes on Twitter. Others also blamed more and more start-ups coming up with IPOs for the falling markets. A user named Wealth Compass tweeted, “Why markets are falling since a week??? Majorly IPOs have created this mess.” From remembering Hera Pheri franchise’s Baburao Ganpatrao Apte to waiting to buy the dip, here’s how the Internet reacted to the latest market crash

As of 12:54 pm, BSE Sensex is down by 1,210.84 points at 56,647.31 whereas Nifty is down by 350.30 points to 16,927.65. Tradingo founder Parth Niyati believes that there is a good probability of a post-Budget rally and going by the last three years’ trends, the market correct itself ahead of the Budget. He further said that Nifty is trying to find its feet.
 
Niyati told BusinessToday.In, “The market is not going in the Budget with any euphoria. So, there is a good chance of a post-Budget rally and if we look at the last three years’ trend then the market corrects ahead of Budget, then it witnesses a post-Budget rally. Nifty is trying to find its feet near a strong support zone of 16,850-16,600 after a brutal fall. The market was looking oversold as PCR was slipped below the 0.7 mark and FIIs’ long exposure in the index future dipped below 45 percent therefore a bounce back is due.”
 
Owing to losses in Indian markets, investors lost Rs 21.28 lakh crore in seven consecutive trading sessions whereas the market cap of BSE listed firms dropped to Rs 258.74 lakh crore today against Rs 280.82 crore on January 17.

Also read: Budget 2022: Lost money in market correction? Here's what lies ahead

Also read: Investors lose Rs 21 lakh crore as Sensex tumbles 4,500 pts in seven sessions