Thursday, March 08, 2007

 

India stock market update 9 March 2007

The Indian stock market has really been moving. An under-statement if there was one. Some major global events seem to have shaken the market to the core. Issues about the Yen easy availability, Chinese market crashing by 9% on one day, and an overall global weakening pushed the Sensex down, giving the familiar sinking feeling of a crash. In addition, the Budget did not exactly promise anything great.

I am however not so negative about the budget, and was looking at the positives. Fiscal reform in terms of deficit targets have been met, and about the budget promising incentives, we should be moving away from a stage where budgets decide the growth of the economy in terms of micro measures. Instead, the budget should just set the macro perspective. If we look at most developed economies, the budgets are more a funds allocation exercise to different programs and ministries.

As long as the government does not muck up the overall economic climate, I believe in India being a growth story, and will remain allocated to the Indian equity story.

Stocks that I am currently tracking:

1. Nirlon - Rs. 50 (risky)
2. Hindustan Construction - Rs. 100
3. Hinduja TMT - Rs. 510
4. Allianz Securities - Rs. 59
5. Aro Granite - Rs. 84
6. IFCI - Rs. 25
7. Bharti Tele - Rs. 749

Labels: , ,




To be updated when a new post is made, click on the icon Site Feed Site Feed


Comments: Post a Comment

Links to this post:

Create a Link





<< Home

This page is powered by Blogger. Isn't yours?