Tuesday, October 27, 1998
Market rise below expectations
The market has bet firmly on the infrastructure sector and on an eventual economic recovery. The major stocks that moved did so more on the probability of an economic revival than based on the probability of a buyback.
Unit Trust has failed, but must succeed
Unit Trust of India (UTI) has been in the eye of a storm upon its annual report being published, which revealed erosion in its net worth. What was perceived by an intelligent market operator for quite some time became common knowledge.
Unwarranted move
There is considerable irony in Standard & Poor's downgrading the credit rating of a country which will probably notch up one of the highest rates of growth seen in the world this year. There is nothing new about the analysis, and there is no immediate provocation for a ratings downgrade at this point of time.
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