Explore Now As the market corrects, look for stocks in auto, oil and gas and PSU baskets and start slowly buying into them, Sana Securities. The news flow across the globe is not all too encouraging. Is this a sign of what is yet to come? This is definitely the first sign of what is yet to come. There may be a bounce back in the market at some point after such a sharp fall but this market is not really falling purely because of the new strain of virus in the UK. The headline seems to suggest nobody is really talking about the fact that we were trading at a price earnings multiple of about 38 which is unheard of! So at some point, this correction had to happen. I have said it before, this market has to fall only 10-15% for it to fall another 20%, sheerly and purely because of panic. Nobody complains when markets are going up. One day it falls 4-5% and there is panic all around and this trend continues the next two-three days and the big fall that I have been talking about will probably happen towards the beginning of next year. I am not surprised at all that markets are falling the way they are. In another 10-15 days, we will start looking at the Q3 earnings and if there is anything short of extraordinary, then this fall could get quite deep from these levels.