Worst is not over

The worst may not be over as yet, but looks like we’ve seen one of most historical weeks in the equity markets. Historical, because some of the big and well-known names may just be found in financial history books. The Indian market too more or less mirrored the global indices. Thankfully, there was no bankruptcy or desperate aid provided to any of the players. Rumor mills of course worked overtime. Assurances had to come in from all quarters including the PM, FM and banking big-wigs that things are not beyond one’s control. So far so good and we hope it continues.

Friday’s blaze of glory may be just be carried forward on Monday. Index heavyweight Reliance will lead the charge as Mukesh Ambani makes some significant announcement on Sunday. While the going gets good, remember, good times don’t last…tough people do. We have the F&O expiry to add to the volatility. The sun outage later in the week may bring indices to a frustrating range later. Even if you are bullish on the long term India story (like we are), there is no harm in booking profits.