Thursday, March 15, 2007
Indian stock market update 15 March 2007
I am a believe in the Indian story, so am investing in the market. However, after reading a fair amount about how much the liquidity story (global) fractionally gettting pumped into the Indian market is pushing up the market, there is some doubt that I have started having. Are we truly at the end of a boom phase, and will the Indian market be very disappointing ?
Something that has truly disappointed is the 1-year peformance of the mutual funds. These are supposed to be experts in the market, and yet so many of these funds are approx at the same NAV as they were last year. I might as well have remained in the primary market. So today, for the first time, I sold 2 of my mutual funds, the SMILE fund from Sundaram, and the SBI Emerging Business Fund. Till now, I have looked at the mutual funds as a sort of additional retirement scheme, I will keep on investing money in mutual funds as a percentage of total investment, and this should become a lump sum when I retire.
Some of the stocks that I have bought in the last few days have been Nirlon, Allianz Sec, Era Con, Mahindra Gesco, Ashiana Housing, and a couple of other construction and engineering stocks.
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