Anil Singhvi hails Narendra Modi Govt's decision to ban Chinese apps, says no threat to markets

Zee Business Managing Editor Anil Singhvi has said that the Narendra Modi Government has taken the right decision by banning 59 Chinese apps in India. The Market Guru went on to add that in the wake of rising tension between the two nations, India has done the right thing by hitting the economy of China. He also said that such an act by the Indian Government won't have any kind of negative impact on the stoc,k markets and investors should continue to follow the 'buy-on-dips' strategy till the NSE Nifty is above 10,000 levels and the Bank Nifty is above 21,500 mark.

Hailing the Modi Government's act of banning 59 Chinese apps in India, Anil Singhvi said, "In the wake of current Sino-India standoff at the Galwan Valley, India has done the right thing by hitting the Chinese economy."

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Singhvi also said that India is a big market and Indian borders getting sealed for the Chinese companies will definitely have some impact on that country's economy and the Mandarin's business pressure group there may come into play and cool down the Chinese aggression on the borders.

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चीनी एप्स पर बैन सरकार का अच्छा कदम...अनिल सिंघवी ने कहा- आज पीएम मोदी के संबोधन से पहले बजार पर रखें पॉजिटिव से न्यूट्रल रुख #EditorsTake #ChineseAppsBlocked #BoycottChineseProduct #PMModi #NarendraModi @AnilSinghvi_ pic.twitter.com/zXfP2h3EWC

— Zee Business (@ZeeBusiness) June 30, 2020

On how this will impact the Indian markets the Market Guru said, "I don't think it will have much impact on the Indian stock markets because today liquidity is the key for markets and there is enough of it currently. So, my advice for the market investors is to continue following the buy-on-dips strategy till the NSE Nifty is above 10,000 levels and the Bank Nifty is above 21,500 levels."