Saturday 4 October 2008

Market is in very cautious mood

Technical analyst, Vishwas Agarwal while commenting on the market said, ``Market is in very cautious mood, people are facing lot of panic fall which is not from their side but from FII selling pressure. The domestic investors and mutual fund are losing trust and conviction in the equity markets both for trading and investments.``

``This scene has developed due to the US fiancial market crisis, as US companies own part of our equity. It is very unfair that stakeholders in one country are ruling the entire world equity markets. I feel this will not continue for a long time, in India. FIIs are holding 15% to 25% stake of our equity where we are owning 75% stake and they are making the rules,`` said Agarwal.

Agarwal further added, ``In this situation our corporate performance is not so bad as market is showing. Indian stock markets mainly behave on sentiments rather than fundamentals. I will not suggest buying or selling stocks, but will still believe happy days will be back.``

Source: - MyIris

Posted by Harsh at 07:52

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.