Financial Daily from THE HINDU group of publications
Monday, May 24, 2004
Financial Daily from THE HINDU group of publications Monday, May 24, 2004 |
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Markets
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Stock Markets Buying and selling shares is no sin
After days of dazed TV-watching, here are Khan, Dakshnimoorthy, Sridevi and Jogin, to gossip about the markets. Let's get serious.
Jog: I call the chat house to order! Sri: Yes, loudspeaker! :-) Will they buyback bank shares? Kay: What're you talking, Sri? At what price? Dax: I'm bullish on SBI. Won't its EPS move up by 20 per cent? Sri: Last week's crash was only notional loss, they say. True? Kay: Too crude because there're always those who can't take in fluctuation and so square up and then lose their shirts. Jog: Crude prices volatile, but CMP ka kya vichar hai? Dax: Any stock by that name? Sri: Common Minimum Programme, you *%{circ}@! Heard about ONGC downgrading? Kay: Don't panic because FIIs are selling because that's a global phenomenon. Dax: I'm avoiding sugar. Sugarcane production down and quotas can go up. Jog: You're all forgetting Thursday, Futures ka din. I see heavy selling on Wed, Thu to push down cash market. Sri: Dax, do you know that what I see in IOC is same as what you see in SBI? Kay: Corporates are afraid of a higher tax. Budget seems to get too close! Jog: After fall in large-cap stocks, mid-cap stocks should also witness selling, as loss in large-cap stocks has to be compensated from profit in mid-cap stocks. Dax: Kya, madcap bola? I'm growing afraid of regulation- heavy stocks such as oil, gas, power and banking. Kay: Play defensive, everybody. Means FMCG and pharma. Sri: Hey, it's raining. I've minimised the met office screen! Jog: Somebody says buying and selling shares is a sin. How to wash it? Dax: Ganga jal doon, kya? * * *
Lee, with inputs from Vir, Nat and Ryn.
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