Managing director of DSP ML Amit Chandra believes that there is reasonable amount of money waiting on the sidelines and could use this correction as an opportunity to get back into the market. Chandra doesn't think that there is any reason to panic at all. This correction, he says, will keep the interest alive in the market. Excerpts from CNBC-TV18's exclusive interview with Chandra.

What have you been picking up from the large number of institutional investors that you deal with after today's volatility?
I think, fundamentally in the longer term, people are going to argue that this is an opportunity. There is reasonable amount of money waiting on the sidelines. I think the correction actually provides them an opportunity to get back into the market.

Today people are on hold because everyone is waiting for the things to settle down. There have been problems with the systems. People have not been able to execute all the orders.

We think there is no reason to panic at all. In a way, it is great that this correction is deep and sharp. It will keep interest alive in the market as opposed to sort of a slow drip selling, which could have happened over an extended period of time.

What were systemic problems that you referred because of which the trades could not be executed?
All things were jammed. There was an overwhelming flow of information. Because of that internally people had problems in getting all the information they wanted as well as all the orders they wanted to execute. Things have been just too slow on that front.

Were there largely buy calls they want to execute?
Definitely, there are investors who want to buy the stocks. That was reflected in the market, when the markets have opened back up after that one-hour freeze. There is clearly buy interest, which is out there.

Most importantly, a lot of margin calls have worked away through the systems. Probably, there are a few more, which needs to be worked out. But I think the deluge, which was out there, is probably behind us.