Sunday, January 20, 2008
India stock market update 21 January 2008
There seem to be multiple reasons propounded for this drop:
1. The markets have gone up tremendously over the past few months, and a correction seemed imminent
2. The immense IPO of Anil Ambani's Reliance Power pulled in a huge amount of money from the market and decreased to a large extent the liquidity available in the system
3. The sub-prime crisis has been hitting Financial Institutions the world over pretty badly, with many of the US based ones showing heavy losses. In such cases, they have been selling in order to get some money back and improve their financials.
Currently, I am just sitting tight, not investing more money other than looking at what I own currently, since I am not sure about when the recovery will happen.
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