The Fixed Income markets are still spiralling yields, esp in India where liquidity is going to come back in a while, but what the %X is the matter with the equities business. It seems the buyers are actually going from door to door nulling previous transactions and creating fresh new ones generating nothing but brokerage( if there is such charged to them) while 2009 was wasted on issuers who raised rnearly INR 40,000 Crores for public coffers and a similar amount for retail businesses from tourism to gymnasiums and pizza, the secondary markets are rather taking all the jumps and starts on the way to the elusive 20k ( the new 22k targets will now start appearing on research billboards, 18K having come and stayed. The hiccups have traded me out of the market and quite a few others as volumes tank after a rather happy open in July. As you can see from the previous post July was a very happy event with everyone buying, but this month has already witnessed scaling down of almost all positions in leading infra stockk like RELINFRA and GMR Infra ( who has just sold a $200m stake in subsidiary GMR airports) IDFC produced some sterling results, midcap infra got a big boost in July from FII build ups and similar things happened in much of Pharma, Auto and now in a week the cable stocks that are rising would come undone. Seems markets just bother aboout when buyers have completed their upticking and tank back to the day that Jehova made his dictum for the world to move it@!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment