Tuesday, September 11, 2007
Indian stock market update 11 September 2007
The Indian stock market has shown itself to be fairly resilient over a period of time. After the sub-prime crash threatened to derail the market, the stock market has again crossed the 15,500 levels, but looks like there may be some minor corrections now and then. Minor corrections are healthy, since if the stock markets keep on rising, people get uncomfortable and are unwilling to invest further in anticipation. Also, with such falls happening now and then, people feel that scripts are moving up as per their fundamentals; if the markets keep on rising, it gives an opportunity for traders and operators to move up junk scripts (including penny stocks) and then when the fall happens, a number of retail investors also get hurt.
It looks like things are so so on the overall political front, with the deadlock with the left scaring the market earlier, and the current deadlock threatening the stability of the Government and putting a stop to many of the long-promised initiatives such as labour law reform, pension reform, etc. A lot of this has been discounted now, but even then, a sudden crash of the Government can badly affect the market. I remain invested, and will continue to evaluate and keep investing.
Stocks that I am currently tracking:
1. Adhunik Metaliks - Rs. 77.50
2. Bartronics - Rs. 236
3. Hindustan Constructions - Rs. 132
4. Tata Teleservices - Rs. 34.60
5. KLG Systel - Rs. 480
6. Reliance Petro - Rs. 128.50
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