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
