Saturday, October 16, 2010


India stock market update as of 15 October 2010

Contrary to most expectations, the Indian stock market has been on a rise, going up and up. This is inspite of the fact that the most recent index of Industrial Production (for August) has seen a downturn (with the most recent rate being 5.5%, compared to a much higher level just a couple of months back). Further, the market has seen a huge influx of money from Foreign Institutional Investors, to the extent that the Government is contemplating putting some curbs on this inflow. The Sensex is reaching levels that were last seen in December 2007 - January 2008, and we all know what happened to the market after that.
Inspite of the fact that past statements of caution and doom seem to have been defeated by the market, we should continue to remain cautious and be careful with putting more money in the market. Stocks that remain fundamentally safe are fine to hold, but if there are stocks that have jumped up significantly, then cashing out for atleast a portion of such profits is the sensible approach. Some of the shares that I am currently tracking:
Western Shipyards
KNR Constructions
Action Construction Equipment
Coromandel Fertilizers
Andhra Sugar
Bajaj Finserve

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