Crazy gold slide a worry, mkt can fall 50-100 pts: Advani

Pashupati Advani, analyst at NBIE discuss the outlook of Indian equities market in the face of falling gold prices and its impact on investor sentiment. Below is the verbatim transcript of Advani's interview to CNBC-TV18.

Q: How do you think it is going to move for the market? We have already lost quite a bit of ground in the last few weeks. Do you think there is more pressure from what you see?

A: The way commodities have fallen off, I think that will have a temporary shock in the whole system. However, I think it also provides a great buying opportunity. So, let us see what happens.

Q: What kind of a range are you seeing for the markets at current levels?

A: Because of this temporary hiccup, it may go down maybe 50-100 points but the real issue is outside the equity markets. It is probably in the commodity markets and you have got issues like gold and silver having gone down a lot, oil also. Oil going down is very good for India, it is good for our markets and for our deficits. But gold at USD 1,350 per ounce approximately is quite crazy because a month ago it was around USD 1,600 per ounce.

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Crazy gold slide a worry, mkt can fall 50-100 pts: Advani

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