Financial Daily from THE HINDU group of publications
Monday, May 02, 2005
Markets - Stock Markets
Wise man will bear and forbear to live at peace
Jogin was busy preparing a comparative chart of airfares, Khan spent time reading a few Japanese phrases to impress his pen pal in Tokyo, andSridevi was thrilled at Disney's plan for a theme park in India! But Dakshinamoorthy pinged them all to get the chat going. Log on!
Dax: Some people bear 3 kinds of trouble, said H.G. Wells. You 3 there?
Kay: The ones they've had, the ones they've, and the ones expected.
Sri : After last week's sharp fall, mood is bearish. Sub 6000, 5500? :-(
Jog: May fall 200 points further. Good time then to buy good stocks. JMO
Kay: Good! In the current situations, better to avoid fresh positions.
Dax: Buy quality stock! Chart patterns suggest weakness in the near term.
Sri : Nifty close to a key support; if breached, would be significant. 1857?
Jog: Pointers from F&O segment too indicate a negative bias for the Nifty.
Kay: Mid-cap stocks to continue to rule. I'm bullish on Havells India.
Sri : Wonder if you know about market for carbon credit! About pollution.
Dax: Gujarat Flurochemicals, SRF, Chemplast Sanmar and Navin Fluorine may benefit. The concept seems worth studying further.
Kay: Decline in crude prices to below $50! Plus buoyancy in US stocks.
Jog: Yes, on Friday! A positive surprise to trends at the start.
Sri : Watch Wartsila. Recent talks of India as a sourcing hub may well be used as a tool by market. On Friday it was at Rs 455 or so.
Dax: ICICI Bank, Andhra Sugars and Kochi Refineries likely to rule firm.
Kay: Yeah, they had impressive earnings numbers. What about Travel Corporation? "Good thoughts bear good fruit," said James Allen.
Jog: Worth looking at. Combination of transport and logistics. Good long term bet! JMO "I bear a charmed life," said the Bard. So do I!
Sri : Madhucon Projects likely to slip after a scorching run, which saw the stock rise almost 50-fold! Q4 numbers show a sharp decline to hasten weakness. Things hardest to bear are sweetest to remember.
Dax: That's from Seneca! Delivery pick-up advised in Phoenix Lamp, Thirumalai Chemicals and Ispat. :-| "I bear no grudges," Bette Midler.
Kay: "I have a mind that retains nothing," he'd add. SRF may notch gains because of anti-dumping duty on nylon tyre cord from China.
Jog: Tyre stocks likely to rule weak initially; this move could enhance pressure on costs. "Great is the power of habit," said Cicero.
Sri : "Teaches us to bear fatigue and despise wounds and pain." Aban Lloyd had stock split, into Rs 2 shares. Likely to do the counter well.
Dax: Went up to Rs 1950 last session. Auto numbers for April due this week. "Doubt not to reap, if thou can't bear to plough," Judith Maden.
Kay: Look for crucial pointers. Will FY 06 show healthy growth after 2 years of robust performance? Maruti, Tata Motors, Hero Honda and TVS Motors likely to be watched. Too many 'bear' quotes to bear!
Jog: Sirpur Paper closed at Rs 93. Upside potential is strong, brokers feel.
Sri : 52-week high is Rs 134. All major paper companies are in an expansion mode? "Once the bear's hug has got you..."
Dax: "... it is apt to be for keeps," Harold MacMillan said! Strong results from Reliance and IPCL, but bhai ladai is running counter!
Jog: "A son can bear with equanimity the loss of his father, but the loss of his inheritance may drive him to despair," said Niccolo Machiavelli.
Kay: FIIs flew away, saying bye-bye. Seeing bears, we sigh. But I see buzz in Kitply. "What's mine is mine to bear," said J.S. Blackie!
Sri : Wah-wah! Yet, most companies didn't show good figures. :-(
Jog: For safety reasons, don't chase away bears for now from the markets. Grrr…. "Nothing happens to any man that he's not..."
Dax: "...formed by nature to bear," Marcus Aurelius. "Wise man will bear and forbear to live at peace with others," said Samuel Smiles. :-)
** Lee, with inputs from Vir, Nat, Mad, Nil, The and Sve.
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