Insider trading was done rampantly by SEBI / FM officials who had prior information that the P Notes issue will be put up on tuesday evening. This information was also leaked to several Big time FIIs who did profit booking and created Shorts on Tuesday. Tuesday was the first day in last 2 months when FIIS booked profit and sold stocks just before the P Notes issue was put out to the media . Only the common investor suffered the big FIIS /SEBI and FM officials all made money courtsey SEBI and FM. Generally most of the major stock market crashes in the last 2 years have been linked to statements made by FM , he makes a statement and the next days he retracks on the same. Statement on Cement pricing, P Notes etc. THE FM /SEBI Officals guys are bigger manipulators then Harshad mehta, Ketan Parekh
RE:Insider trading is going on by SEBI officials and Fin Minsitry officials
by Venkat Chandra on Oct 18, 2007 08:27 PM Permalink
I fully agree with you. Earlier this sort of thing happened with disinvestment in Govt. companies like National Aluminium. Some Finance ministry official will issue statement to the press that the Govt intends to disinvest its shares in the company and offer it to the public. The price of this scrip will then go up. A couple of days later another official will deny this and the price will come down. This happened several times in a short time and the shares prices were going up and down like a yoyo.I am sure lot of Finanace and Industry ministry officials made huge profits trading in public sector companies.
RE:Hello sir ...you were in power till 2004
by LaX Ray on Oct 18, 2007 07:43 PM Permalink
You didnt understand the issue. First letting it fall, then making statements to make it recover. Thats the issue.
This person seems to be creazy or might have lost money.
SEBI has atleast done right thing by putting breaks to this P-notes business where we do not know whethr smugglers or terrorists are investing. It is not great Idian Story that took this sensex to this level. It is just pure speculation made by FIs for their gains. It happened in the entire Asian countries, including Pakistan which is touched new heighs.
Had this been allowed the sensex would have easily gone 25000 in a month and poor retailors or common man have lost their hard-earned money.
Sure, government, SEBI, RBI must do some thing to control this type of manipulations or speculations
RE:useless fellow
by DR. BHASKAR G V on Oct 18, 2007 08:27 PM Permalink
How can you call him useless fellow, without even understanding his point?. He definitely has a valid point in his argument, barring political boundaries. You should have minimum manners for posting, Right?
RE:useless fellow
by raj kishore harkut on Oct 18, 2007 07:49 PM Permalink
He is right on one point that the FM said FII were buying at that very moment.First of all how did he get the information when the market had closed within minutes of opening.The FM or anybody is not supposed to divulge who is buying or selling and incite investors.Because of this the investors have bought and got caught in the 400 pts and then 1400 Pts - thereby ending with around 1000 pts down. How can the FM ask the journalists to do there homework and find out who is buying and selling on NSE and BSE which is a confidential matter.
Mr.kirit is a politician and a stunt man. He and his party always wait for an oppotunity to politicies some issue on road for their own publicity. He had done lot of stunts in past on road or in court, however it is there duty to bring the issues at proper place i.e.Loksabha and Rajya Sabha!and have healthy discussions and expose the ministers and government. They just make monkey dance in the houses and made the fiasco of the issues and came on road, which is a proper place for them for last 60 years! I dont think he is a man of mission but he always want to take out political commission!The cleaverness is appreciated, but there is no benefit of his movements for common people.
you seem to be a sick person. the FM had been time & again warning petty investors to stay out of market at these high levels.
Due to the difference in earning expectation / opportunity foreign investors were investing in Indian economy in a big way.
It is prudent on the part of SEBI and GOI to ensure the KYC norms to block Terror funds and drug funds entering India.
The rise of Index during the last couple of months has definatly enhanced India's reputation in the world.
More over one must not forget the Stock market is a market of speculations and any body who enters it show know and appreciate it before hand.
FM's statement at 10.30 AM was definately to reimpose investors confidence and support the market to come out of crisis of panic selling and crash. and it should be viewed only like that.
Still if some body wants to oppose it just for the sake of opposing it he may go ahead with his sick mentality. MAY GOD GIVE GOOD SENCE TO SUCH PEOPLE.
RE:MAY GOD BLESS SICK PEOPLE
by LaX Ray on Oct 18, 2007 07:28 PM Permalink
The explanation you are putting forward is too simple to believe. When millions of profit can be made in such a morning crash and afternoon recovery scenario, its worth to investigate everything.
RE:MAY GOD BLESS SICK PEOPLE
by Tigers on Oct 18, 2007 07:29 PM Permalink
On.. your views shows you are a real mentally sick person. It seems you got a heart attack yesterday after seeing the fall. Take rest man. Joke of the year.. "The rise of Index during the last couple of months has definatly enhanced India's reputation in the world."
