That was not the front page of Debonair, but of Economic TImes. It was a great day for newspapers and TV channels(especially the PROFIT channels) to create an unnecessary hype and make some money for themselves. I remember one day when my grandma asked me whether the thing called Stock Market, BSE and Sensex didnt exists some years back. And thought of putting a post as the answer and analysis.
The year 1991 was a great for India or lets say India Inc. Our nation opened its doors to embrace (or to fall into the abyss of) globalization. Since that year, India has been developing economically and gaining strength. Its good to see our country growing and making to the forefronts of world associations.
But why is the unnecessay importance on Sensex and the figures its displays?
Stock Market is the basis of analysis of any economy. The figure it shows relates to the strength and weakness of the economy. Nowadays, newspapers and the channels are making stock market a kind of celebrity. If it increases, they cheer. Else they make it a Black Day.
I believe that the increasing Sensex points is not at all reliable to show the strength or weakness. It justs projects the momemtary nature of the market. It has nothing to do in the long time.
The volatality of the sensex is more important that the value. Volatality means the points that it lost or gained in a trading session. This is very high for BSE. And to make it worse, the volatality of Sensex has swinged in both directions for about half a dozen times in the last year.
Whatever be the reason, whether the P-Note or FII overflow, hope our dear and brilliant finance minister has some sort of plan to save the market from these landslides and fast gains. And pray that these channels don't make a story out of every value change in Sensex.