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Showing posts from October 11, 2009

A member asked for C. Kutumba Rao's Article

IGNORING GOOD news such as positive global cues, liberal bonus issue
from Reliance Industries and better-than-expected results from
Infosys, markets tumbled from highs on heavy selling pressure during
the week ended.On the Bombay Stock Exchange (BSE), the Sensex plunged 492 points to
close at 16,643 and the Nifty on the National Stock Exchange (NSE)
fell by 138 points to 4,945.Market breadth was negative during the most part of the week
reflecting caution among market participants ahead of the "festival
week."Telecom and IT scrips proved to be the biggest drag on the indices.
FMCG and metal stocks were in demand on sustained buying interest.
With several companies sucking liquidity by issuing QIP, IPO, GDR and
other instruments, money flow to the secondary market is getting
limited.Simultaneously capital inflows have led to strengthening of rupee
hitting hard the export-oriented companies. A result of one company
does not change the overall outlook; keep track of broader markets to
see wh…