Business Daily from THE HINDU group of publications
Monday, Aug 20, 2007
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Business Daily from THE HINDU group of publications Monday, Aug 20, 2007 ePaper |
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Markets
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Stock Markets Columns - Chat
Jogin was calculating how long it would take for any vacuum in the market’s funds to fill up. Khan was trying to find out the Indian links, if any, with the US companies going under. And Dakshinamoorthy was studying the latest ‘products’ rated by agencies… Till Sridevi messaged them all, ‘Tm2Cht’, meaning ‘time to chat’. Join the gang! *** Sri: Hi. It used to be said equities are risky… Kay: But now equities carry ‘big uncertainty’! Jog: As seen in their rollercoaster move this month? Dax: Luckily, the US markets bounced back… Kay: On Friday after the Fed cut discount rate. Sri: Will that ease sub-prime concerns? Jog: Capital outflows outplaying our MFs. Kay: They certainly couldn’t match FIIs in money terms. Sri: Our MFs should rise to the occasion! Dax: They have to pour monies into equities? Jog: To hold the indices, and stall any contagion effect. Kay: Last week’s numbers, koi? Dax: TCI Ind and Fin were up 5% last Monday. Nagarj Fert earned a profit of 3% while PTC India, Educomp Soln and BEML gained about 2%. Voltas, Orbitco, Syndicate Bank and ICICI Bank were up 1%, while State Bank ended that day on a posi tive note. Sri: Our markets should move higher! Kay: On Monday? Owing to Fed decision? Jog: What has Fed to do with our markets? Sri: No place for traders in the market? Kay: Under current scenario. They were all… Dax: Eliminated, at least for the time being! Sri: On the upside, Nifty has resistance at 4,260 levels. Jog: On the downside, crucial support exists at 4,065. Dax: Will Nifty hold above this crucial support level? Jog: Market players have to decide. Sri: Many stocks are in the oversold zone. Kay: Like REL, ONGC, Andhra Bank? Try out. Jog: Greedy when others are fearful! Sri: And afraid of the market? Dax: When markets zoom ahead without any hiccup… Kay: It has been called ‘irrational exuberance’. Dax: Now, is it ‘irrational element of fear’? Sri: If the sarkar falls? Kay: Could do more damage than sub-prime crisis. Jog: Retail investors took the crash in their stride. Dax: If they grumbled, it was because they were… Kay: Short of cash to indulge in bottom fishing? Sri: Stocks where FII participation is negligible… Dax: Escaped! Bharti and Satyam… Jog: Will be quick to rebound. Torrent Power and JP Hydro… Sri: Kept traders busy, when destruction was on in full swing. Kay: In this volatile market, stocks like IB Real Estate… Dax: And Unitech will be in the top… Jog: Losers and gainers list within hours? Kay: Take care! Bye… *** Lee with inputs from Mad, San and Bij. Blog at http://MarketChat.blogspot.com
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