The Nifty Metal index was trading 2.12 per cent down at 1520.55.
He said in a positive case scenario, better news will arrive in the not-too-distant future.
The impact of the coronavirus on economies “will not be over quickly", he said.
Gehlaut bought 24 lakh shares from the open market at Rs 96.33 apiece.
We have no doubt equities stack up as the best asset class to invest at this point.
The financial year gone by saw a stellar show by the 10 most-valued stocks.
Jhawar is the chairman of Sebi-registered investment advisory firm Finideas Group.
For FY21, analysts are recommending equities, mutual funds and agri-commodities.
The fund beat its benchmark in 2019 largely because the U.S. market outperformed India.
Shares of these companies have plunged between 17 per cent and 72 per cent.
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