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Sunday, January 20, 2008


It was a bad week for the market. 2008 truly has been not very good, and the Sensex went 9% down this week, while the Nifty went down by 8%. The midcap index has got pounded and select midcap stocks have lost between 15% and 20% this week It was a complete session of bloodletting starting with largecaps like Reliance, ICICI Bank, Sterlite, NTPC and then trickled down to many of the very liquid midcap names. Of course one witnessed relentless institutional selling throughout the week and towards the end there were signs of fresh shorts piling up on the futures side, and some semblance of unwinding from the retail fraternity.
There were opportunities in the financial sector as well as in real estate.

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