>But where are the corrective measures?
*** The operative question!
At 6:47 AM +0530 5/23/06, mc mahant wrote:
The Euphemism "Correction " has again wiped out the small investor . Govt. is only making hopeful noises"Keep invested. I have talked to RBI. All corrective measures are in place" .
Root cause are* failure of Agriculture and *failure to make peace with the internal dissatisfieds-like the Assamese, Kashmiris and the whole swath labelled Naxalites.OnlyUlfa can solve India's crisis!
2- year Happy Birthday is all right.Capturing Dispur is all right. "Reservation" may get you a few more feel-good votes. But where are the corrective measures? Who is driving?
mm
From: Chan Mahanta <[EMAIL PROTECTED]>
To: [email protected]
Subject: [Assam] From ToI
Date: Mon, 22 May 2006 17:23:10 -0500
>I hope none of our desi-investment promoting
>friends is being hurt by this. And if they are,
>hope not too badly.
>
>Is the end of the nightmare in sight yet?
>
>cm
>
>
>
>
>On a day of crazy swings, Sensex sinks below 10K
>[ Tuesday, May 23, 2006 12:34:10 amTIMES NEWS NETWORK ]
>
>RSS Feeds| SMS NEWS to 8888 for latest updates
>
> MUMBAI: It was a raging storm. The market turned
>crazily wild, lashing the Sensex with such
>ferocity that at one point it plumbed down over
>1100 points. Trading had to be suspended. Or else
>the ship might have sunk. When trading resumed,
>the storm hadnâ¤t cleared, but the market clung
>to the lifeline of assurances thrown by the
>finance minister, RBI and SEBI. It clawed back
>some 700 points, but still closed 450 points down.
>
> Veterans tried, and failed to recall this kind
>of volatility. In just seven sessions the market
>has sucked out over Rs 6 lakh crore of
>investors⤠wealth. And there are chances of
>further losses. Some brave souls claimed the
>worst was over, but the considered advice of
>seasoned players was: "Donâ¤t try to catch a
>falling knife â¤" donâ¤t try to predict the
>bottom of the market. Not yet."
>
> Finance minister P Chidambaram, obviously a
>worried man, made an unscheduled press statement
>when trading was suspended to assure investors
>that nothing was wrong with the fundamentals of
>the economy. For good measure, he added that FIIs
>were net buyers on Monday. He went further to add
>that he would advise retail investors to stay
>invested.
>
> Was he just trying to talk up the market? Or was
>the advice worth heeding? While the questions
>were tossed around, the selling pressure seemed
>to ease up on the bourses and the sensex made a
>recovery of sorts but not enough to heal the
>wounds inflicted earlier in the day.
>
> After all, the margin money problem was still
>festering, and banks were apparently shy of
>giving bail-out loans. As a result, the FM and
>regulators assured investors that liquidity
>(money) to meet brokers⤠obligations would not
>be a problem; the banks will lend.
>
> At the same time, government financial
>institutions were said to have been prodded to
>buy in order to shore up investor sentiment.
>Itâ¤s learnt that UTI, LIC and SBI bought
>heavily, with LIC buying mostly IT stocks. Mutual
>funds, too, were net buyers of Rs 400 crore.
>Still, the market sentiment was shaken.
>
> Said Shankar Sharma of First Global â¤" once
>himself in the eye of a meltdown storm: "Itâ¤s a
>bull with a midlife crisis. A market whose aura
>of invincibility is gone and now looks just like
>any other market."
>
> After repeatedly failing to read the market
>behaviour day after day in the last one week,
>market players were refusing to predict
>Tuesdayâ¤s market. "We will react to whatever
>happens. But the mood is one of hopelessness,"
>said the head of a local brokerage.
>
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