India Uncut

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Monday, August 01, 2005

Bulls fight bears in the rains

Sucheta Dalal writes in the Indian Express:
The benchmark Sensex shimmied up 91 points in the first 30 minutes of trading last Friday when Indian stockmarkets re-opened for trading after the biggest deluge in history crippled India’s commercial capital and its largest listed company suffered extensive damage due to a massive fire at Bombay High.

Is this a sign of bullishness, irrational exuberance, or worse, the sign of sinister manipulation of stock prices to ensure that the National Stock Exchange’s (NSE) Nifty remains at a high on Friday, which was expiry day for Futures & Options contracts.
Read the full piece, in which Dalal gives us the inside dope on "a massive bull-bear tussle".
amit varma, 6:18 PM| write to me | permalink | homepage

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