Monday, October 29, 2007
The 30-share BSE Index took just 10 sessions to cover the last 1,000 points on funds buying in heavy-weight stocks, led by Reliance Industries.
The Sensex spurted in the last five minutes of trade to fly past the crucial level and scaled a new intra-day peak at 20,024.87 points before ending at its fresh closing high of 19,977.67, a gain of 734.50 points.
The rally was led by capital good stocks and market major and trend-setter Reliance Industries, which surged to a record Rs 2,844 on funds buying, influenced by a similar trend in other Asian stock markets.
The journey so far..... 15k to 20K.....
The Sensex crossed 19,000 mark on October 15. It had crossed 10,000 mark on February 6, 2006 and 15,000 mark on July 6, 2007.
Seems Bulls are taking SPEED :-)
Courtesy : IBNLive
Thursday, October 25, 2007
Well , making money is not as easy as the FIIs thought.
They have been caught because their bulls were running unexpectedly and our Indian bulls were not able to compete with them.
C'mon it is quite obvious……Rs vs $.
But anyways…..thanks to the SEBI finally putting some hurdle for them.
I should not say it’s a hurdle, I should say putting some rules.
The Securities and Exchange Board of India (SEBI) on Thursday announced new rules for foreign investments through financial instruments such as Participatory Notes (P-Notes).
The market regulator has asked the Foreign Institutional Investors (FIIs) to wind up P-Notes for investing in derivatives within 18 months.
SEBI announced the decision after a meeting of the Board, which also approved imposing curbs on P-Notes for investing in spot market. The new norms will come into effect from Friday.
In derivatives, FIIs and their sub-accounts cannot issue fresh P-Notes and will have to wind up their current position in 18 months, he said.
In spot market, FIIs will not be allowed to issue P-Notes more than 40 per cent of their assets under custody. The reference date for calculating such assets will be September 30, SEBI said.
The provision will come into effect from close of trading hours on Thursday.
Those FIIs who have issued P-Notes of more than 40 per cent of their assets, could issue such instruments only if they cancel, redeem, or close their existing P-Notes. Those FIIs who have issued P-Notes less than 40 per cent of their assets under custody can issue additional instruments at the rate of five per cent of their assets.
Well done SEBI !!! Being a TRUE Indian ,I liked it …….