The Hindu Business Line : Celebrating X-Mas too early?

Sridevi was making a list of things to buy for the Christmas bash at her house, even as her boss sent an all-important PPT to go through. Having finished his work, Khan was going through the performance of his stocks last week. Jogin was sending invitations for group chat to all the folks and Dakshinamoorthy was the first to write back: “Market chatters...what do we have this week at the Sensex?”

* * *

Sri: Is this upward momentum in the stock

markets expected to continue?

Dax: At least till the US Fed meeting on Tuesday.

Kay: Recent data showed strong job creation in US.

Dax: Forget US, anybody seeing a slowdown

in Indian economy.

Sri: High interest rates, a firm rupee, surging global

oil prices and fallout of the US.

Jog: How do you like this new group chat system.

Kay: Nice add-on...brokerage stocks have

caught up pace.

Sri: With Edelweiss listing soon, they can amass

some buying interest.

Dax: What is the buzz around Asian...

Kay: Asian Electronics?

Dax: No, Asian Oil Fields.

Jog: Something brewing up there...let me check.

Kay: Wow! The stock has appreciated

by 77 per cent over the last month.

Sri: Got some orders from biggies like Oil India, ONGC.

Dax: Nifty bounced back from Friday lows, a good sign.

Jog: May be we could see new highs in

the coming trading sessions.

Sri: Tell me something...why is Fed meet important?

Dax: Market men hope a further rate cut by the Fed...

Jog: (Cutting Dax short) Will boost FII inflow in India.

Kay: So no sharp pullback expected?

Sri: With tremendous liquidity waiting to

enter at market.

Dax: When will we rally alone? FIIs had been the

key drivers always.

Jog: Retail and institutional money may get diverted

to the primary market this week.

Dax: Because some IPOs are in the offing this week...

Kay: This could also mean a sideways to

weak market for the week.

Jog: Then we may use the opportunity to accumulate.

Sri: Anyone for tech pack.

Dax: Technology stocks led the way on Friday though...

Kay: NIIT Tech moving up superbly, rally

expected further is it?

Jog: I am following up on Geometric Software.

Dax: Other sectors…tyres.

Sri: A birdie tells me Ceat is riding up smoothly.

Jog: Buy it on bumps then!

Kay: Expect some action in telecom shares.

Dax: Rcomm?

Jog: Nah...Idea, Bharti, Hutch is not listed yet.

Sri: They are forming a new tower company: Indus.

Dax: So we are all and truly closing above 20k at last?

Kay: Mid & small-caps are all where the action may be.

Jog: Aren’t we celebrating too early?

Sri: May be...there might be a lull due to

the ensuing holiday season.

Kay: A breakout and then a break-in?

Jog: May be...Let’s wait till Monday.

* * *

Kum with inputs from Sri, Mad and Lee

Blog at http://MarketChat.blogspot.com

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