This is not a runaway market: Quality stocks that fell in 6-8 months are up for grabs

After a sharp selloff in October 2018, domestic equity indices marked a decent recovery in the first fortnight of November 2018 mainly underpinned by a sharp decline in crude prices (20 percent down from the peak in October 2018) easing concerns over deteriorating twin deficits and stability in the Indian rupee.

Renewed buying from foreign institutional investors also helped in the rise of the Indian market with the Nifty 50 index and the BSE Sensex index rising 2.2 percent and 2.4 percent, respectively in the first fortnight of November 2018. But bears soon took control and pushed the Sensex below 35K and the Nifty below 10,600 levels.

A sharp decline in the crude price provided a much-needed boost to the Indian economy and aided the market to retain lost value up to Rs 3.3 lakh crore during the fortnight.