Wait for markets to stabilise before buying stocks right now: Dilip Bhat

In a chat with ET Now, Dilip Bhat, Joint MD at Prabhudas Lilladher, shares his thoughts on the market. Excerpts:

ET Now: Is this the dip you would have been waiting for to tell your clients to buy or do you believe this dip can extend itself further?

Sudip Bandyopadhyay: When the markets are rising, you are always waiting for a dip and when the dip comes in this fashion, it leaves you confused. Surely, things are in a state of a flux.

There are so many moving parts out there in the international scenario at the moment. Everything is all over - whether it is the rupee, falling oil, collapsing demand, etc.

Typically when this kind of a correction happens, you hear all kinds of horror stories. Taking a ratio of all this into account, I would still wait for a while and not be in a hurry to invest at the moment.

The verdict is still not very clear at the moment and Lehman Brothers memories are still fresh in everybody's mind. Thus, the fear factor is all pervasive at the moment.

Hence, my advice is to wait for a while, let the market stabilise a little more, let us make a little more sense out of it before we become adventurous to go out and buy the stocks.