Sensex-ional!!
No..im not covering porn in this post..tats better left to ppl much more qualified than urs truly.. tday's topic is the sensex..and it breached the 9000pt mark during trading some time yesterday.
History:oldest stock exchange in India, the Bombay Stock Exchange established in 1875 as the Native Share and Stock Brokers Association at Dalal Street. 318 persons became members upon paying Re 1.
The Sensex, first compiled in 1986, is a 'Market Capitalisation-Weighted' Index of 30 component stocks i.e. ACC, Bajaj, Bharti, BHEL, Cipla, Dr Reddy's, GACL, Grasim, HDFC, HDFC Bank, Hero Honda, Hindalco, HLL, ICICI Bank, Infosys, ITC, L&T, Maruti, NTPC, ONGC, Ranbaxy, Reliance, Reliance Energy, Satyam, SBI, Tata Motors, Tata Power, TCS, Tisco and Wipro
and now for my piece.. the sensex first showed signs of the current trend to fly up n away back in 92-93.. when the Congress govt backed economic reforms opened up the market.. declared the end of license raj.. foreign investments 1st started trickling in..(thanks manmohan singh!) proof:from 1000 in july 25,1990.. to 4000 on march 30,1992.
after tat there was no looking back.. from the BJP led coalition win.. to Reliance emerging as a major player in the private sector.. to the IT boom.. to the recent congress led electoral win.. offcourse there was the fair share of hiccups...like the harshad mehta scam..the dotcom bust..but suprisingly.. the BSE has displayed unusual recuperative powers.. and bounced back stronger than b4.. we even survived the south east asian Fin crisis relatively unharmed..!
Most skeptics of the current bull run .. tat began with the current govt's tenure at the centre...would never have believed that this run would last so long. hell.. i myself was happy to note the sluggish performance in the recent months.. which seemed to agree with the pessimistic market predictions tat were doin the rounds of late. Friends who are active in this financial circus.. gave me varying insights to the cause and effects of every spike or fall in the sensex... foreign investement .. esp from Japan, had the local speculators very excited abt the money waiting to be made. But rumours abounded that the japs were waitin for the right moment to start rolling their dice..
as for the current meteoric rise.. its attributed to sustained foreign fund buying and hopes of higher fund allocation for India in 2006 . (Foreign funds have bought Indian shares worth $780 million in November, taking the total to more than $8.48 billion in 2005, after pulling out more than $866 million in October. The mutual funds have put in Rs 363 crore so far in November after buying shares worth Rs 2,900 crore in October.) And the magic is not just being done by the poster boys of the 'moolah' club..offcourse the regular culprits like IT companies.. banks.. n infrastructure players have done well........ in addition there r capital goods heavyweights like L&T,seimens n others.. overall.. of the 30 in the sensex.. 26 haved moved into the green tday..(w-o-w!)
In short.. for ppl out there.. who like me are hesitant to enter the mkt.. fearing tat its the end of the bull run..i guess theres still money to be made.. take a risk..and hear the registers ring..!
History:oldest stock exchange in India, the Bombay Stock Exchange established in 1875 as the Native Share and Stock Brokers Association at Dalal Street. 318 persons became members upon paying Re 1.
The Sensex, first compiled in 1986, is a 'Market Capitalisation-Weighted' Index of 30 component stocks i.e. ACC, Bajaj, Bharti, BHEL, Cipla, Dr Reddy's, GACL, Grasim, HDFC, HDFC Bank, Hero Honda, Hindalco, HLL, ICICI Bank, Infosys, ITC, L&T, Maruti, NTPC, ONGC, Ranbaxy, Reliance, Reliance Energy, Satyam, SBI, Tata Motors, Tata Power, TCS, Tisco and Wipro
and now for my piece.. the sensex first showed signs of the current trend to fly up n away back in 92-93.. when the Congress govt backed economic reforms opened up the market.. declared the end of license raj.. foreign investments 1st started trickling in..(thanks manmohan singh!) proof:from 1000 in july 25,1990.. to 4000 on march 30,1992.
after tat there was no looking back.. from the BJP led coalition win.. to Reliance emerging as a major player in the private sector.. to the IT boom.. to the recent congress led electoral win.. offcourse there was the fair share of hiccups...like the harshad mehta scam..the dotcom bust..but suprisingly.. the BSE has displayed unusual recuperative powers.. and bounced back stronger than b4.. we even survived the south east asian Fin crisis relatively unharmed..!
Most skeptics of the current bull run .. tat began with the current govt's tenure at the centre...would never have believed that this run would last so long. hell.. i myself was happy to note the sluggish performance in the recent months.. which seemed to agree with the pessimistic market predictions tat were doin the rounds of late. Friends who are active in this financial circus.. gave me varying insights to the cause and effects of every spike or fall in the sensex... foreign investement .. esp from Japan, had the local speculators very excited abt the money waiting to be made. But rumours abounded that the japs were waitin for the right moment to start rolling their dice..
as for the current meteoric rise.. its attributed to sustained foreign fund buying and hopes of higher fund allocation for India in 2006 . (Foreign funds have bought Indian shares worth $780 million in November, taking the total to more than $8.48 billion in 2005, after pulling out more than $866 million in October. The mutual funds have put in Rs 363 crore so far in November after buying shares worth Rs 2,900 crore in October.) And the magic is not just being done by the poster boys of the 'moolah' club..offcourse the regular culprits like IT companies.. banks.. n infrastructure players have done well........ in addition there r capital goods heavyweights like L&T,seimens n others.. overall.. of the 30 in the sensex.. 26 haved moved into the green tday..(w-o-w!)
In short.. for ppl out there.. who like me are hesitant to enter the mkt.. fearing tat its the end of the bull run..i guess theres still money to be made.. take a risk..and hear the registers ring..!
posted by rahul nair | 9:43 PM
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