gfiles magazine

November 21, 2013

STOCK DOCTOR | Global funds hold indices up

dr gs sood
Global funds hold indices up
THE current market scenario defies all logic and presents interesting contradictions. Whereas the Sensex is at a kissing distance of its all-time high recorded in early 2008, India Infoline (IIFL) and two other large brokerage houses have announced the gradual shutdown of their retail broking divisions. They admitted that retail clients are no more interested in equities.
According to a recent Economic Times story, the share of retail investors in total turnover of cash market is at a 10-year low of 34 per cent from a high of 84 per cent in 2003. Only 10-15 per cent of the market is near all-time high and is, in general, very expensive. FIIs have bought Indian equities worth more than US$15 billion so far this year. They may deny a visa to Narendra Modi but are betting big on his victory. More than US$3 billion came after September 13......Read More..

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