Financial Daily from THE HINDU group of publications
Monday, Feb 28, 2005
Markets - Stock Markets
Real estate ads can be works of prose artists
Sridevi stopped playing `Inky Pinky Ponky' on what the Budget may have today, and Khan switched off the poll talk analysing election results, even as Jogin stirred up from bed, and Dakshinamoorthy jumped down from his exerciser bike. All for their weekly market chat. Be aware!
Kay: Keep awake for the Budget! Listen before
committing fresh funds!
Jog: Chart patterns suggest weakness. Budget may spoil
all technicals. :-(
Sri: Overall mood in the market is still optimistic. Un
likely to fall after Budget.
Dax: Because most big players al
ready sold 50 per cent of position
Jog: Ditto in derivatives market.
Existing positions are of FIIs well
Sri: President's address to
Parliament suggests positive for
Kay: Also micro irrigation and
infrastructure. If the market falls
after Budget, one should
Dax: If you want to take risk before the speech is over,
buy Jain Irrigation. Kirloskar Bros may benefit if sops
come through. Textiles may open firm. I see duty
rationalisation on manmade fibres.
Jog: Indo Rama Synthetics can benefit then. :-) Nifty
seems to get strong support at 2050 level.
Sri: Now everyone is betting on textiles, engineering and
realty sectors. Right! Wish I had land...
Kay: Ah, you're dreaming again! The most maverick of
all jute barons is seriously ill, you know?
Dax: Jute market can be in a tizzy if something
happened! I heard that many prominent tea brokers in
Siliguri were caught unawares by the sales tax swoop
soon after Economic Survey was tabled.
Jog: It seems some of the affected had shown interest in
acquiring tea estates, abandoned by owners!
Sri: Quiet, all of you! After Rail Budget doubled tariff for
iron ore meant for export market, I see weakness in Sesa
Goa. Container Corp can rule weak because the business
is now open!
Kay: Cement and steel companies are a saved lot as Lalu
has left the freight rates untouched.
Dax: A few other stocks to watch are IFCI, DS Kulkarni
and Gujarat Heavy Chemicals.
Jog: Analysts say Nifty Futures may be bought only with
strict stop loss sell at 2049...
Kay: Index topper Infosys looks stronger for short term.
SBI has some more steam left. :-)
Sri: Gujarat NRE coke is a good buy at these levels. The
stock closed at Rs 139 on Friday.
Jog: Volumes have been on the increase. Got adjusted to
bonus issue and touched to a low of 128.
Dax: They say, "The poor man's budget is full of
schemes." Is there a scheme to get rich quick?
Kay: As Horace said, "Labour diligently to increase your
property." That's the shortcut to wealth!
Sri: Now that real estate is in news, let me alert you on a
quote of Donal Henahan: "Next to the writer of real
estate advertisements, the autobiographer is the most
suspect of prose artists." Bye!
* * * * *
Lee, with inputs from Vir, Nat, Ace, Ray, Mad and Sve.
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