Thursday, September 23, 2010

 

India stock market update as of 23 September 2010

As predicted, the Indian stock market is becoming much more volatile. In the last couple of days, we have seen the usual conditions of volatility such as the large cap going up, while the middle caps have been extremely volatile. The Reserve Bank is predicting some increase in inflation, and hence has raised some of its rates by a small amount.
For the last many weeks, most retail investors have actually tried to increase their cash levels by selling out those scripts where there is a profit, and trying to stay on the sidelines in this volatility. This is what is recommended to most investors, unless they are confident of their involvement in the market, and about the script they are holding and can take the losses that may occur. At the same time, there is news about sugar scripts that may be worth buying, given some losses in sugar crops and a potential hardening of the prices.
Some scripts that I am actively tracking:
Voltas
United Phosphorus
Jyoti Limited
Punjab Woolcomber
Ponni Sugar

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