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Wednesday, Aug 14, 2002

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Listless market

The editorial, `Markets waits for a trigger' (Business Line, August 12) brings out the fate of the downward looking Indian stock market. Even the recent sops offered by the Finance Minister could not evoke any triggers. The slow action of the `regulators and investigators' only adds fuel to the fire.

With the manipulators gaining upper hand, it is possible that the market may witness further downs. As observed, it is the `innocents' who pay for all these turnarounds. The ordinary investors may lose faith in JPC reports, as its period is being extended for long. As US markets are facing new problems, it is possible that `US-centric' markets, such as ours, may be dragged down further. The disinterest shown by FIIs may aggravate the situation further.

The Government is yet to come forward with concrete steps to revive the economy, and offer a comfortable lift to the stranded stock market, apart from announcement of occasional divestment boosters. Till then, long-term players will keep away and the market will move without any direction or intention.

C. P.Velayudhan Nair

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