Wednesday, May 18, 2022
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Raging Bull, Hidden Bear

With the sensex marching north, shares have become attractive. Invest with care.

Raging Bull, Hidden Bear
Raging Bull, Hidden Bear
outlookindia.com
-0001-11-30T00:00:00+05:53

It was one of those rare mornings last fortnight when the Bombay Stock Exchange (BSE) opened lower after crashing the previous day. But you could never have guessed that from the mood inside the trading room of Mumbai-based stock broker Jayesh Seth. Traders were yelling to each other, over the phones, in snatches of Gujarati, Marathi, Hindi and English—and they were mostly buying. The decibel level signified that the stupendous, six-month-old bull run was on course, despite the recent fall. For, there's an old saying on Dalal Street: 'The greater the noise in trading rooms, the better the bullish sentiments among traders'.

In his office down the hall, a few feet away from the trading room, Seth himself was telling investors that the bulls (the buyers) would go on the rampage again. Staring at the sensex (BSE sensitive index) movement on his computer screen, he told one of them; "Dheele che ane choppy che (It's weak and choppy) and I don't like it", and quickly added that it won't last for long. In fact, both Seth and his chief trader, G. Devnathan, believe that corrections, like last fortnight's fall, are welcome. It would goad more investors to get in. They feel the sensex would cross the 5000-point mark, or even 6000, within a few months.

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