Well the SEBI is not an independant body as it is claims to be....it is a puppet at the hands of the Finance Ministry.......
But then how can the SEBI circular read one thing and the FM speak a totally different thing altogether.......
Even though Mr.Somayaih claims to be fighting for small investors...there is a tinge of personal animosity.....
The entire episode has been mismanaged and this is not the way to curb excess inflows......or the rising Rupee....
The SEBI is not meant to look at the benefit of the exporters or to check the rise in rupee.... it is for regulating the Stock Markets.....and what it has been doing in the past few days may help things in the long term but the entire thing could have been done in a much more clearer and smoother way
RE:Let the the small investor go to hell
by 666 on Oct 21, 2007 12:37 PM Permalink
Yes they should have done their homework before making opposing statements on media. I also lost money because of this huge confusion.
RE:Let the the small investor go to hell
by on Oct 21, 2007 12:05 PM Permalink
P chidambaram and all other politician makes 10 crores daily. If you dont beleive just think abt this point: When they enter the political arena they are so poor and mostly from minority. After 3 to 4 years in politics their balance sheet shows Rs.100 crores they open schools and colleges with their black money. Mr. Sharad pawar is no different most corrupt person on earth, (I am sorry one of th most corrupt)
There is no prime sense in this article. Even the Title of this article and lead para doesn't revealing anything. How FM will benefit from this is given up guessing for reader. What does the writer want to tell the readers.
RE:irrelevant
by neeta parwani on Oct 23, 2007 05:09 PM Permalink
Fm will benefit by buying at cheap prices through its affliates. Also Public PSu's LIC and such other mutual funds would have bought large chunk of money as they knew it was confused market. Your right Mr Kirit Somaiya these PC and Damodaran -- sorry but have made their money in their confused statements.
There are definitely hidden agenda of the Finance Minister and his close family members,friends and associates in this whole controversy.There must be a thorough enquiry in the stock market exposure and trading pattern of Finance Minister and his close family members,friends and associates.
On 17th Oct 2007 after the trading was suspended by SEBI in BSE and NSE immediately after the market opened, the Finance Minister Mr.P.Chidambaram told the reporters something like this "Please go and find out who is buying in the NSE and BSE just now. The FIIs are buying. And the markets will stabilize before evening". Now when he was talking to the reporters the markets were closed for trading.Wonder how the FIIs could be buying if the markets were closed? and wonder how he got this info? And on 17th ,if you check the figures, the FIIs were net sellers to the tune of almost Rs.2000 crores.
It is undoubtedly clear from the trend of the share market visible in last three -four moths that politicians and the FII have close nexus between them and obviously they are playing the game jointly .Heavy funds of political leaders is also involved and the market is pulled up by FII's as and when they like. It is now crystal clear that entire stock market is in the hands of a few FII's who are manipulating rate of any company as per their sweet will. They first pull the rate very high and sell it slowly to book profit at the cost of small investors.
Rise in stock market has got no relevance with their fundamental values. In the nineties there was only one Harshad Mehta and now there are many Harshad Mehta or Ketan Parikh like players in the stock market who can twist the market as per their likings.
Stock market has become more or less equal to gambling where a veteran player with cards like 2 or three can force the ace holder to surrender only due to his money power. Due to heavy buying by FII's in selected hardly 10 companies; share market has seen a rise of more than 3000 thousand points in one month in sensex which never happened in the past. Similarly in one day i.e. on Wednesday, the 17th Oct. 007 market show a historic fall of 1800 points in one day and then sudden recovery of 1400 points in sensex. Such type of volatility was never seen in the past.
All this is happening is due to unlimited use of Participatory Note by FII's. In 2004 also there was sud
RE:sensex -puppet in hands of FII's ad FM
by PanchanathamIyer Thiagarajan on Oct 21, 2007 06:03 AM Permalink
The rise or fall in sensex circus will affect only the anonymous investors thru PN/ODIs route and not mostly Indian investors. What is needed is more transparency in PN route rather than shutting the route altogether. Share market economy is like casino economy ad it will not affect our national economy. thiagarajan P
I want to ask questions to small investors.Why for they are entering in this messy market?Does they have the idea, what is the earning potential of the company in which they are investing. Every now and then experts come to defend the valuations and market level. Do you know what is their interest? why the company like JAICORP, RELIANCE INFRA,WALCHAND have such high valuations. What short of revenue they are earning and what are their future plans and potential to earn profits in future? Who are the people and promoters of these companies and what is their track record? Why companies like SAIL, NTPC have such a lower valuations? How come Reliance group can command such a stratospheric valuations? Who are the players who are benefitting from this market? Every investor should realize that it is their hard earned money which is going in casino (market) and should know what they are getting in return. Brokerage houses are hardtrying to convert the investors into speculators. Why it is so that we realize it when we lost all? How many investors are entering the market fully knowing about the the company they are investing and their future performance. It seems to me that people enter the market only on the basis of some news and making quick bucks. Don't rely on these experts.They will not be held responsible if your money is lost. Only they can loose their jobs but you can loose your future.COMPANIES WITH POTENTIAL BUSINESS PROPOSITION AND HIGH CUSTOMER SATISFACTION CAN SURVIVE.
RE:I appreciate it
by santosh satpathy on Oct 20, 2007 04:59 PM Permalink
mr chandra pandey ,no one ever gonna hand u down a perfect system,especially in monetary world,they only get better over the time.The same is true for the government which is trying to sanitize FII money only end up ruining the market coz by putting curbs & constrain on participation its only gonna drive investor to other liberal markets who are out there.
RE:I appreciate it
by Ganesh R on Oct 21, 2007 07:52 AM Permalink
You're asking all good questions. If you learn answers for all these questions, then you'll be investing into stocks, if you don't then you're gonna crib like this not only in rediff but on every discussion forum.
RE:I appreciate it
by rohit on Oct 21, 2007 01:56 AM Permalink
Cool down guys..... Some says its a gamblers market. some says its casino. some says it%u2019s all manipulation, if you recall the stock market history, its always been a play ground and we all are still part of it
So be ready for gambles.
Lets leave this to politicians and use your own mind. nothings gonna stop in this country. this topics are the politicians topic which will end up with no result. there are so many manipulator, lets not list down one or two. bottom line is, were the scripts you are holding affected from this???
What is the circuit? History says that it is nothing but a manipulated prediction. Mind you %u201Csome ones LOSS is some ones PROFIT%u201D rest all is manipulation. be a smart investor%u2026. Sooner or later every one thinks only of his profit%u2026..
Unfortunately, our FM is the biggest gambler of our country. He and his son are putting their fortune in stock market. So as and when he wishes to bring the market down, he comes out with such ideas. Jus for his own sake, he is making millions of people of our country loose trillions of rupees. Last year in May 2006, he did the same thing about the tax.. whether the profit will be chared @10% or 30%. He never gave clear statement, though the market fell by almost 3000 points because he was interested in market falling.
Pity for us Indians.... though Sonia Gandhi and Manmohansingh knows all the tricks of Chidambaram, they can't do any thing.. JAI COALITION POLITICS KI
RE:Chidambaram
by simple on Oct 21, 2007 11:11 AM Permalink
Vipul. Everything is correct but may be u r not aware that Chidambaram is a Congress MP. Not some other party's MP which is supporting Chidambaram. So Coalition has got nothing to do with this. Its all Italy.
RE:Chidambaram
by natarajan iyer on Oct 21, 2007 11:28 AM Permalink
I fully agree with u.Any of the brokers you meet will confirm that Chidambaram's son is deeply involved in market and you do not need any intelligence to say that in a matter of hours ,they have made their trillions and millions at the cost of others .Now ,they can let the market run its course as their job is done. Beware ,behind the innocent looking face is a cunning chettiar who can beat sethias hollow .It is unfortunate that India has such ministers .Elsewhere , such people will be hauled up but not here .They will get away by doing anything .On the contrary ,they will go about advising people how to play in the market .If Indians still manage to create wealth in spite of such people ,Should you not admire their ingenuity ? I hope Kirit will able to suceed in pinning down te minister and SEBI.
i agree with mr kirit and his step to go against FM & sebi. First of all this issue is with sebi with quite a long time secondly when market crashed with lower circuit, the fm statement came at 10.30 as a manipulation. as the money of most the minister or brokerage were invovlved thru which ministers invest there money. more over to safegaurd the intrested of the misinters and fainly member the FM gave manipulatiing answer. you should also knw that the daughter of FM is also the member of NSE and her huge intrested was wastes in stock market.
i am sure the sebi is not protecting the investors but only ministers.
even second day the regulator worked as per instruciion of ministry and took market to high and frm there they stared taking out money. which led to great fall.
now pls investors understand what the matter safegaurd ur future bcos sebi, govt and toher r not there to safegaurd you
