They still believe in the India story...
What goes up must come down, but they still believe in the India story. A Garment trader, Bank employee, Investor and a Research Analyst still believe in the comeback of the Indian markets.business Updated: Jan 22, 2008 22:06 IST
He started dabbling in shares ten years back. Biyani, who runs a garment trading firm in Mumbai’s western suburb of Andheri, has made good money in the last two years when the stock markets were on a roll. But in the last three days, Biyani, 62, has lost whatever he had earned during the boom period. “I never expected this kind of fall. This is how stock markets behave. One has to accept it,”said Biyani. Biyani, who has invested in companies like RIL and RNRL, is prepared to wait. “I have invested in several blue-chip stocks. So, I can afford to wait and watch,” he said.
Dinesh Singh, 31, an employee with a private sector bank, was vacationing in Lucknow when he first heard about the stock market crash. “When I came back to Mumbai, I realised that my portfolio stocks like NTPC, Arvind Mills, Reliance Energy and others had halved their value,” he said. He lost Rs 4 lakh from the recent crash. He dabbled extensively in futures and options and when the times were good he made 320 per cent returns in a month. He will think of getting back into F&O when the Nifty breaches the 4500 mark.
Manali Bhuva is confident that this is a temporary blip in the India growth story. Bhuva, an investor who dabbles in the market for her living, has followed the developments in the last week so closely. It hasn’t been all good news since the time she saw her investments in stocks like RIL or Infosys giving her 275 per cent returns. “I lost Rs 2.5 lakh in stocks like NTPC, Reliance Energy in the last five days. She says that in the last three days, her net worth was wiped off by 50 per cent. “I still believe in the India growth story,” she adds.
He started dealing with the markets in 2001 at a time when the markets were down. “The timing took me by surprise and I lost 30 per cent of the value. This is largely due to the fact that I have invested 50 per cent in stocks, and the rest in mutual funds and fixed deposits,” he said. He believes that fundamentally strong scrips like SBI and RIL will continue to yield good returns. But, he is not too sure about small and mid-cap stocks. “I got out of a lot of mid and small-cap stocks, since I sensed a correction in the offing. However, I will continue to be in the markets.”