Waiting For Political Storm To Blow Over

While marketmen have had some respite from the Asian turmoil over the past two days, the political factor (read the AIADMK factor) continues to haunt the market.

Brokers seem to have given up analysing stocks and trying to predict the market. They are trying their hand at the even more arduous task of trying to predict AIADMK supremo Jayalalitha's next move and trying to analyse the possible fallout.

`What to buy?, What to sell?' seems to have been replaced by `What is the news from Delhi?'

Punters are unwilling to carry forward large positions over to Monday as they do not want to be trapped on the wrong foot in case of any adverse development on the political front.

 

Though the situation is slightly better off as compared to the situation a few days back, players are still not comfortable.

Politicians do not have the concept of week days or weekends, says brokers. It may be recalled that Sitaram Kesri decided to withdraw support to the Deve Gowda government on a Sunday, upsetting the calculations of even the shrewdest of brokers.