Financial Daily from THE HINDU group of publications
Wednesday, Dec 08, 2004
Financial Daily from THE HINDU group of publications Wednesday, Dec 08, 2004 |
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Opinion
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Letters Mid-cap scrips
This refers to the editorial, `Market on mid-cap high' (Business Line, Dec. 6). It is true that investors and other market players are upbeat about mid-cap scrips. This is indicative of the global competence of mid-cap entities, an aspect that is reinforced by the active participation of FIIs in the Indian market. The FIIS have a larger role in pushing up the prices of these scrips. The IPO market is also active as the issues of many companies have been receiving overwhelming response, in turn giving these scrips a boost in the secondary market. The present upward trend of the market pales in comparison with the bull runs during 1991-92 or 1999-2000. But the average investor expects the market to move in a seasoned way, on a long-range basis. Intermittent deep falls of the market, disproportionate to the upward move may disappoint investors. This trend would also render mid cap scrips vulnerable to certain market forces who push up the prices of certain scrips. C.P. Velayudhan Nair North Edappally
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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