A stock or index is said to be in a bear phase if the benchmark extends its decline to 20 per cent.
The S&P BSE Sensex needs to close above 37,700 levels on Friday and one needs to see buying emerge at lower levels. Only then, one can see a revival towards 39,000 levels in the days ahead.
Among sectors, refineries, financials including banks and information technology (IT) have seen more than Rs 1-trillion market-cap erosion in the past six sessions.
Aberdeen Standard Investments Ltd manages $676.8 billion as of end-March, globally
The plan is to buy in the second leg down, usually it's best to wait for the markets to build a base before committing heavily back into the buy side