Monday, October 30, 2006


Markets make 13000 level

Well, finally the market makes the 13000 level. As I have been writing, this is a very strange situation. It essentially seems that the market is truly being driven by the sensex. Large caps such as Infosys, and Reliance have hot lifetime highs and show no sign of dropping (and hopefully they will not except for technical corrections from time to time).

The surprising part is the mid-caps, especially some of the construction and real estate stocks that I hold. All of them are still way off the May positions, even though they are climbing from the positions that they had dropped to. Some of the stocks that I have held onto which are now looking up are Era Constructions, Ashiana Housing, Ansal Housing, Noida Toll (although it is now a disappointment), Atlas Copco, Greaves, Garnet Construction, Madhucon Projects, Pratibha Industries, IVRC, etc.

Now am back to the same waiting game, not sure whether this is a time to book profit, or whether this is the start of another secular run propelled by India's promise and good performances. So, will keep a close watch and decide whether to sell on a case by case basis. This however has a problem where a crash one day should not lead to an impulsive decision to sell.

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