Friday, September 19, 2008

 

India stock market update as of 19 September 2008

Topsy-turvy is the sign these days, and the market is doing its best to make sure that the market remains topsy-turvy (climbing up or down very rapidly and suddenly); analysing the market remain a difficult job. What irritates me about some analysts is the absolute certainty with which they make their predictions. Right now, for anybody investing in the market over the previous many years, the market just proves that nobody can predict what can happen.
I was just reading an article in the New York Times web page about how the US Congress was informed about the sudden fall of the financial titans, and how the US Government will have to pump in huge amounts of money; the credit environment is so bad, and the sentiment is so low, that this needs to be done else the financial economy will fall, and that too very suddenly.
All this affects the Indian stock market immensely as well. Many of these institutions own chunks of the Indian market, and in a crisis they start liquidating everything they own. At the same time, sentiment overall should not fall so badly since it is clear that central banks the world over will intervene to keep the economy from falling drastically.

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