Ignore market volatility and invest for the long term: G Chokkalingam

Overall market-cap is down by Rs 22 lakh crore, mostly by the small-and-mid cap stocks. Nearly 1,000 stocks are down by 50% from heir peak prices.

In our view, all possible major short-term concerns are behind us:

- Oil price has corrected about 30%;

- Elections  for the major states are over;

- Market has discounted the impact of resignation of the Reserve Bank of India (RBI) Governor, Urjit Patel;

- Trade wars at global level are almost at peak - now both the US and China are under pressures to talk to to resolve the issues. Any further aggressive position by the US will create more deflationary pressures, which would help in moderating the oil price;

Overall market-cap is down by Rs 22 lakh crore,