Financial Daily from THE HINDU group of publications
Monday, Jan 17, 2005
Markets - Stock Markets
What's best is to make the best of the way things turn out
Pushing a gutka packet stealthily under his keyboard to give it a kick, Jogin began to pound in lines of market chat, calling in Sridevi, Khan and Dakshinamoorthy to join. Chew on!
Jog: All bulls missing after the heavy snowfall, I mean,
stocks falling fast!
Kay: Bulls busy in jallikattu. But mood is pessimistic.
Sri: Stocks may open firm today, but on every rise there
will be sellers!
Dax: FIIs were net sellers though outflows are modest.
Weakness may continue.
Jog: Chart-watchers are worried that Nifty breached key
Sri: Sizeable declines on 4/5 days
last week. F&O indicators also
Kay: Nifty should get support at
1885 levels. After Press Note 18
got out, I see more FDI coming in.
Jog: You know the bank buzz?
Overall trend remains weak but
sarkar may announce new policy!
Dax: Caution! Heavy selling
likely in banks planning second
public offers, such as Dena, PNB and OBC. Better stay away for some time. Or, sell them in the market and subscribe to them in IPO.
Sri: Nice strategy. Report on banking reforms may focus
on private sector, old & new. Liberal FDI norms could
pitchfork Bank of Punjab, ING Vysya and Centurion Bank
to the forefront.
Kay: Await RIL's first earnings report after big fight. Will
Infocomm-related charges impact?
Sri: If you think broad and wide, MTNL and BSNL's
broadband can benefit Sterlite Optical. :-)
Jog: It came out with good results last week. Those with
three months perspective can take positions.
Dax: PM spoke of PSU strengthening. Does it mean
consolidation in the oil sector? JMO
Kay: Did you notice cement stocks firm, bucking market
trend? Focus on ACC, Guj Amb and Dalmia.
Sri: I expect heavy volumes to continue in would-be
acquisition targets, Prism, Mysore & Guj Sidhee.
Dax: What's common among ONGC, Rel Infocomm, Jet
Airways, Tata Tele, and Hutchison Max?
Kay: Coming up with public issues! FIs may sell some
holdings in secondary market to invest in new.
Jog: My nephew working in Spectramind says he
sees Wipro Tech in dreams, and claims he is SAN.
Sri: That's storage area networking, such as from
Intransa. A call to merge, but not yet loud and clear!
Dax: When I searched for medicine, I noticed that Aurobindo Pharma is showing poor numbers.
Kay: For the second quarter in a row; bad! Pharma stocks
look weak. Virus is contract manufacturing?
Jog: So, stocks like Matrix, Divi's, and others should be
avoided at the moment? Advice me, pleez!
Sri: Publilius Syrus said, "Many receive advice, few profit
by it." You're in that `few'. ;-)
Kay: Sri, beware of Jog! When he asks for advice, he's
usually looking for an accomplice!
Dax: Remember this John Wooden quote: "Things turn
out best for the people who make the best of the way
things turn out." Optimism is my other name, you see!
Jog: Positive thinking, though I'd advice everybody to
reflect on some negative things too!
* * * * *
Lee, with inputs from Vir, Nat, Ray, Mad and Sve.
Send in your views to: Chat@TheHindu.co.in.
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