UP Stock Exchange witnesses recovery
WITH THE capital market limping back to normal, the business activity at the Uttar Pradesh Stock Exchange (UPSE) was seen improving. But the confidence of the small investors will take time to return.india Updated: May 24, 2006 00:31 IST
WITH THE capital market limping back to normal, the business activity at the Uttar Pradesh Stock Exchange (UPSE) was seen improving. But the confidence of the small investors will take time to return.
Reacting to the situation, UPSE Broker Association president Sushil Kanodia said that the rise of 300 point in the index instilled faith of investors in the government policies. Their fears and apprehensions about the gloomy fate of the capital market was also dispelled. He said that the market showed the signs of improvement after 2 pm on Tuesday as the dispute over the margin money was resolved at the NSE and BSE with the intervention of the government.
He said that the selected shares witnessed gain and gradually every share would acquire a gaining situation. However, he said since the capital market was being dominated by the USA market, the investors would have to be in close touch with the global position of the capital market. Blind and un-thoughtful investment would prove disastrous. Investors must avail the expertise of capital market. On the other hand, former director of UPSE Vivek Saran said it was a good sign that Indian rupee was becoming stronger as compared to dollar. This would have a long-term effect on the capital market and in petty and hefty investments.
However, Saran also urged the investors to be cautious about making investments till the capital market assumed a stable character.