Friday, October 08, 2010
All change is not growth, as all movement is not forward. ~Ellen Glasgow.
The sudden sell-off spooked the market but the question is what soured the sentiment? There was no major trigger for the swift selling, except for the dollar’s weakness. The key is to be nimble and alert, especially now with the key indices close to all-time highs. Avoid chasing high returns in the Small-Caps and Mid-Caps as it is risky. Proper homework is a must before entering any new stock(s) in this space.
Nine companies including TCS and Wipro have made it for the first round for the mega tender floated by UIDAI. (BL)
BHEL gets Rs37bn order from KPCL (BS)
Jindal Steel & Power bids for majority stake in Zimbabwe steelworks (BS)
The Indian markets ended in the red and has entered into a consolidating phase. The NSE Nifty is struggling to find specific direction for the past three trading sessions and is trading in a narrow trading band. After starting off in the positive terrain, markets were stuck until the European markets opened with a negative bias.