Sunday, July 01, 2007

 

India Stock Market Update 02 July 2007

So finally the stock market has beaten the previous doom-sayers and crashes, and reached it's all time high, crossing the previous level of 14723. Now, a lot of retail investors are afraid to enter the market, worrying about a crash. I want to liquidate some of the stock that has not moved much over the past few weeks or months, so am going to be selling some stock such as ITC (I know, long term, but in one of holding, it has not moved), Accel Frontline (a promise stock, but somehow not getting a good feeling). Maybe it is time to also move some more profits to Mutual Funds (my favourties being SBI Magnum, Franklin Flexi-cap, and Reliance Equity Opportunities Fund - although I am open to more if somebody can suggest some good sector specific or diversified funds).
IFCI has been a good buy, having bought at 30 a few months back, and now has climbed to almost double that, with potential of going higher due to news of it planning to sell a stake at a higher price. Overall, market seems to be looking good, with good integration of Domestic and International Mutual Funds. On the policy side, the Government keeps on making right noises about reform, although whether we will see some good moves is uncertain, what with the left being a roadblock.
Looking to carefully evaluate cement stocks, they seem to be making a move upwards. Am also evaluating stocks that are 'green', that is, stocks that can make a benefit from the demands of overcoming global warming.
Stocks that I am currently tracking:
1. Yes Bank: Rs. 180
2. Praj Industries: Rs. 480
3. Reliance Industries: Rs. 1680
4. Reliance Petro: Rs. 114
5. Era Constructions: Rs. 395

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Comments:
Hey really good post. was searching for something else just came in. Whats your view on Cairns for the coming quarter. buy/hold /sell??
Regards
Suresh kaimal
I have a small blog on educating investors on the way to invest and the options available in india. Check out and do put your valuable comments sir
http://kaimalsway.blogspot.com
 
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