Underscoring A Mind Of Its Own

Volatility continued, but the negative sentiment on the Nasdaq did not percolate to the local bourses. This brought cheer to those who feel it is high time the Indian markets showed a mind of its own. It would be interesting to see for how long this show of individuality lasts.

The ICE (information technology, communications and entertainment) sector is seeing some positive action, but the small investor would be well-served if, this time round, he does not throw caution to the winds.

Circumspection is what a vast majority is viewing the latest developments with.

BSES sparkles

BSES, which has been going through a relatively dormant phase, has posted some impressive gains thus far. What with the Reliance bid helping it achieving a set base price for future predators at this counter.

With volumes at the counter also witnessing a substantial rise, the scrip seems to be attracting attention from speculators, investors and predators alike.

Another of those instances where one is unable to read the mind of an individual who truly believes in self Reliance.

A switch in time

With renewed activity in ICE stocks, fund managers are again wondering if it is time to switch to New Economy stocks aggressively. With the stars of the ICE economy quoting at one fourth their original highs, the downside, if any, appears marginal. Hence the consensus at this point is that those funds who show a relatively high level of nimble footedness could be well rewarded.

Numero Uno

Yesterday's activities signal a revival of interest in leading TMT (technology, media and telecom) counters. Infosys, the bellwether information technology stock, had Numero Uno scouting for it aggressively. At last count, Numero Uno had succeeded in lapping up 1,00,000 shares of Infosys for one of its prominent institutional clients.

A story in waiting

The winner of the last three years has been the one who listens to the story, builds a bird's eye view of what the future could have in store and then latches on with a vengeance. These traits were in ample evidence in Golden Fund's decision to lap up half a million shares of Himachal Futuristic. As they say there, is a story unfolding out there and the past is not always a good barometer to gauge the future by.

Punter's Diary

For the past one month the day trader was defined as one who latched on to a story at ten in the morning, entered it half-heartedly at ten thirty, developed faint heartedness by ten forty five and in all probability dumped it by eleven.

This saga would continue for the better part of the day, because the Nasdaq gyrations of the previous night had left the poor fellow totally confused to say the least.

Totally confused, he decided to ignore the Nasdaq henceforth. His summary, the Nasdaq is reaching the bottom of the downward spiral and hence time for a new perspective.