Tuesday, September 18, 2007

 

India Stock Market Update 18 Sept 2007

So today the market did a up and down climb, and was negative for some time today, but eventually closed up by 164 points. This is reversing the trend of the past few days where the market would go up in the morning but would decline due to profit booking. The index is still below 15700, and unless it can give a conclusive jerk and break the 16,000 barrier, there will be a lot of talk about downturn in the market.
The sub-prime crisis in the US market apparently still has to run its course, with persistent marker rumours about the financial impact on US firms still to be fully out (given that some of the financial transactions and holdings are very complex). A lot of people are waiting for the US Federal Reserve to make their important meeting statement about whether there will be any change in interest rates.
The Indian economy still appears to be a on a roll although the sharp rise in credit interest rates in order to squeeze inflation appears to be having an effect on industrial growth, and the Government and RBI may soon have to decide to lower interest rates in order to spur growth. But, the overall picture on the Indian market still remains positive, and that is the way that my investment horizon currently is.
Stocks that I am actively tracking:
1. Bartronics (this has risen a fair amount, but good potential) - Rs. 277
2. Hindustan Constructions - Rs. 135
3. JMC Projects - Rs. 340
4. KLG Systel - Rs. 526
5. Praj Industries - Rs. 215
6. Supreme Industries - Rs. 225
7. Tractors India Limited - Rs. 325

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?