The only way to prove that one is clear..FM and SEBI.. is to cancel all the transactions done on 16 and 17. This way faith that all is fair wud be restored.Why should circuit breaker be applied let there be a free fall or rise.Who can prevent money coming in as FII are permitted to invest and heavily too. If they dont issue PN then? I dont think common man is investing at such risks.And if index has touched 19k then it may touch 20k also.So those who have purchased must wait and not panic and sell. K Ramani, Mumbai..19/10/07 geetaramani14@rediffmail.com
If anyone thinks that the recent ( last many months) behaviour of the Stock market has anything to do with the economy of the country, he is either a BIG FOOL or pure IGNORANT !
Even though Mr. Somaiya himself is not clean image the theory he has put is logical and very close to practical situation. Can anyone tell me what has changed for the Nifty 50 companies and Sensex 30 companies for market to move up at such a speed. Why FM has to step in whenever market crashes? Are Market fundamentals strong? or few people are manipulating it?
seeing our dear FM's reckless comments on TV at a time when markets are crashing reminds me the scene in rang de basanti when defence minister talks recklessly about indian pilots and seeing those comments madhavan lover and mother crying.......
The crash seems to have been created necessarily by two class of people with vested interest (1)those who had taken huge short sale positions after the sensex crossed 17000 who wanted to cover/reduce thier losses (2)those who could not participate in the rally and who have been eagerly waiting for correcions
FM & SEBI has been sleeping all the while when markets were rising with excessive liquidity of FII money through PN,and didnt even gave a hint that they were formulating such a proposal of disallowing investments by FIIs through PN route until suddenly, ppl saw breaking news on tv on Tuesday evening .While everyone in govt ,even the FM were congratulating themselves knowing well that FII money inflows has been surpassing old times till recently when sensex touched 17000,they even took the credit for that FIIs are putting large chunks money because of govts sound fiscal management.
Now,instead of being just watchful of anonymous foreign money through PN route ,they are putting draconian blanaket ban on FII money through PN route in the name liqudity,rising rupee,terrorism , and god knows what else.
Money is coming to india because we are growing at 9% per annum, because ppl all over the world believe in the new india story.Indian retail investor suffer the most when market sentments are hammered in this brutal& artificial means. If govt goes on acting this immaturely and continue play with countris financial market sentiments ,forget FIIs even domestic investor wont dare to enter stock markets and so we may go back to our bullock cart days.
RE:FM
by swamy p r on Oct 18, 2007 09:26 PM Permalink
I agree with you that Congress Government is making money for election. It is a fine example of Manipulation of Stock market for the Congress party's benefit.
RE:FM
by anil kumar sood on Oct 18, 2007 10:10 PM Permalink
it is through agents like you ,me or anybody do you feel congress will buy in its own name understand
Its not investors who are poorer - its those anonymous foriegn speculators and their brokers and cronies on CNBC. The markets have been out of bounds for common citizens for quite some time and its time things were set right. Hope it falls more and common Indians get to benefit from the growth story!
FII'S have entered during a phase of falling markets and rupee value escalating against $at Rs39/- per$. Their strategy is double edged, first, they increased prices and can sell profitably. Secondly, the FM will surely intervene now or further to devaluate rupee and in that way also FII's benefit. What a game!
