Saturday, December 30, 2006
Stock update Dec 30 2006
The year is coming to an end (in fact ended for the stock market). One should relax for the last day of the year, and only pick up the threads of the stock market after this last day of the year.
The year has seen major volatility on the market, pretty much unprecedented. Markets have crashed and burned in the past, but they have not jumped up and down like yo-yo's in the past. I am sure that this past year has seen the exit of a number of investors who have not been able to bear the volatility. In my case, I have hardened my heart to the jumps of the market and am resolved to stick through the normal ups and downs.
Just yesterday, I, with a heavy heart sold off a stock from which I had high hopes, Noida Toll Bridge. Overall I made 10% gain in 1 year on this stock, which was too little given the opportunity that this year has provided.
The market has almost managed to climb back to the 14k peak, so it is a very risky zone, and any fresh purchases should be done with extreme caution.
Some of the stocks which I am currently holding or tracking are:
Era Constructions, Supreme Ind, Jaihind Projects, Ashiana Housing, Indiabulls, Voltas, Gallant Metals, Allianz Sec (although this one has gone up quite a bit and is now pretty risky), Fortis Financial, Aro Granite
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The year has seen major volatility on the market, pretty much unprecedented. Markets have crashed and burned in the past, but they have not jumped up and down like yo-yo's in the past. I am sure that this past year has seen the exit of a number of investors who have not been able to bear the volatility. In my case, I have hardened my heart to the jumps of the market and am resolved to stick through the normal ups and downs.
Just yesterday, I, with a heavy heart sold off a stock from which I had high hopes, Noida Toll Bridge. Overall I made 10% gain in 1 year on this stock, which was too little given the opportunity that this year has provided.
The market has almost managed to climb back to the 14k peak, so it is a very risky zone, and any fresh purchases should be done with extreme caution.
Some of the stocks which I am currently holding or tracking are:
Era Constructions, Supreme Ind, Jaihind Projects, Ashiana Housing, Indiabulls, Voltas, Gallant Metals, Allianz Sec (although this one has gone up quite a bit and is now pretty risky), Fortis Financial, Aro Granite
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Wednesday, December 20, 2006
Stock market update 20 Dec 2006
Well, if you are still with the Indian stock market today, you are a brave person. The last few days have seen a renewal of the gyrations of the stock market, enough to make you dizzy. So you had 2 days having massive falls, followed by some climb-backs, and then the incredible spectacle of a local country specific decision (a move by the Thai bank to curtail movement of currency out of the country) making the Indian sensex fall by upto 400 points, not a small thing.
I have been watching stocks doing this gyrations, and the only plus point is, such changes breaks me of the habit of watching stocks at frequent intervals. No point in frequently watching the market if you just see things falling into the red.
What to do now ? I will continue to be involved in the Indian equity market since I do not see any alternative. Equity remains a good option for a long-term growth option, as long as there is a certain amount of care taken. What does this mean ? Keep invested in good stocks, do not get too speculative in risky stocks. I was not too sure about Mutual Funds. I have a fair percentage of my funds invested in MF's; but their performance in a crash is not so good. They crash and burn like any other part of the market, you would expect investments controlled by highly paid smart market wired people to be much more savvy about the market.
Some of the stocks that I hold that are fairly stable (they fall, but do not crash significantly this time) even in this crash are Ansal Housing, Ashiana Housing, Era Constructions, IVRCL, TRF, Walchandnagar. I remain invested in these and some other stocks.
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I have been watching stocks doing this gyrations, and the only plus point is, such changes breaks me of the habit of watching stocks at frequent intervals. No point in frequently watching the market if you just see things falling into the red.
What to do now ? I will continue to be involved in the Indian equity market since I do not see any alternative. Equity remains a good option for a long-term growth option, as long as there is a certain amount of care taken. What does this mean ? Keep invested in good stocks, do not get too speculative in risky stocks. I was not too sure about Mutual Funds. I have a fair percentage of my funds invested in MF's; but their performance in a crash is not so good. They crash and burn like any other part of the market, you would expect investments controlled by highly paid smart market wired people to be much more savvy about the market.
Some of the stocks that I hold that are fairly stable (they fall, but do not crash significantly this time) even in this crash are Ansal Housing, Ashiana Housing, Era Constructions, IVRCL, TRF, Walchandnagar. I remain invested in these and some other stocks.
Labels: Equity, India, Mutual Funds, Stock
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Thursday, December 14, 2006
Stock market update 13 Dec 2006
It looks like investing in the India stock market seems to require ice running through one's body instead of blood and a very steady heart. We have had a sudden crash happen over 2 days a couple of days back, and you suddenly have experts coming out of the woodwork claiming that they forecasted the crash. I would not think that this is something unexpected, given that every body has been claiming that there needs to be a correction, and that it could happen anytime. So there is not a great deal to claim credit for. And this is not the first time that it has happened, a crash has happened enough frequently that it is no longer unknown.
In my case, the viewing of the portfolio after the crash of the second day left the market down by around 1000 points was painful, but I expected to see the values that I saw. It has not fully recovered, but the last 2 trading sessions were good, and prices are slowly recovering. It helps that I have weeded out some of the more risky ones, and even the mid-caps that I know fared decently (meaning that they did not drop like a stone).
What has not recovered is overall condition of Mutual Funds. They are fairly down, and will take a few more sessions to recover. This is actually something that is not so clear to me. I would expect the Mutual Funds to fall less and recover faster than my portfolio, but that does not seem to have happened to my portfolio. Maybe there is something that I am not understanding.
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In my case, the viewing of the portfolio after the crash of the second day left the market down by around 1000 points was painful, but I expected to see the values that I saw. It has not fully recovered, but the last 2 trading sessions were good, and prices are slowly recovering. It helps that I have weeded out some of the more risky ones, and even the mid-caps that I know fared decently (meaning that they did not drop like a stone).
What has not recovered is overall condition of Mutual Funds. They are fairly down, and will take a few more sessions to recover. This is actually something that is not so clear to me. I would expect the Mutual Funds to fall less and recover faster than my portfolio, but that does not seem to have happened to my portfolio. Maybe there is something that I am not understanding.
Labels: Equity, India, Mutual Funds, Stock
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