Q: "What is it that goes up and never comes down?"
Well, the funny (and a bit stupid, I felt so!!) answer was "Age!". Yep, dats true. But today I really hoped one more thing will also work that way..And dats our dear Sensex!!
Today, 21st Jan 2007, is supposed to be the most depressing day by researchers. And it looked like a very depressing and "shockiest" day for the Indian market.
Sensex plunged by 2050 points. It's the biggest fall ever. Other Asian markets also suffered today but no as great as ours. The long lasting and unbelievable bull ride has come to a halt. And it comes during the time when the third quarter results are out.
That points tells us to probe deep into it. The 3 rd quarter results of most of the companies have been satisfactory. There haven't been any losses or a big drop in profit. Still, our markets slide like and avalanche. So, don't they ever care about the general economic condition??
Well, I am not an expert to talk about the SEBI rules and Participatory Notes and other stuff. Anyway, those business pundits out there in TV will be discussing these things the entire week (or maybe the entire month!!).
And that's the problem, I suppose. That was what I talked about long back in this post - The frenzy media which is crazy about the stock market and the crazy business pundits talking blah-blah and creating all the hype. We have to watch the market and read news, but I believe that the importance and exposure given nowadays is way out of proportion.
Here you can find the Top 10 falls in the Sensex history.
Hoping that SEBI and FM will plan something that works out so that the restaurant can add one more answer for "the thing that goes up and never comes down?"
Age and Indian stock market!!
Update : Read this to get more insight into the state of markets around the world