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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (6128)	8/31/1999 8:20:00 PM
From: sea_biscuit	Respond to of 12475

India to buy some more Soviet junk from Russia : expressindia.com

To: Mohan Marette who wrote (6128)	8/31/1999 8:29:00 PM
From: Mohan Marette	Read Replies (2) \| Respond to of 12475

Market-cap vaults 48% to Rs 232,000 cr in 4 mths Sanjay Kular Mumbai 31 August SHAREHOLDER wealth (market-capitalisaton) in the Indian markets has zoomed by Rs 2,32,000 crore ($54bn) or nearly 48 per cent in the past four months to touch a staggering Rs 7,20,000 crore ($165bn). This is the steepest-ever increase in shareholder wealth in such a short span of time. Aggregate market-capitalisation of listed companies on the Bombay Stock Exchange (BSE) has risen from Rs 4,88,229 crore in August 1998 to the current level of Rs 7,20,000 crore. The 30-stock BSE sensex has risen 1,525 points or 47 per cent during the same period, to around 4,900 points. Foreign institutional investors (FIIs), who in 1998 remained net sellers on Indian bourses for Rs 1,480 crore ($355m), have turned aggressive buyers from the beginning of 1999 and accelerated pace further in the second quarter of this year. Aggregate FII investments in 1999 till today is put at Rs 5,000 crore ($1.16bn) of which over Rs 4,000 crore ($915m) inflows came in just last four months.Since last May, even retail investors have started to return to the markets and have helped in broadbasing rally in hundreds of cash group stocks. "This is clearly visible in the advances to declining ratios and number of scrips hitting 52-week highs in cash group on the BSE," said dealers. The markets have risen despite the third mid-term poll in as many years bringing fresh political uncertainties. Although election trends are far from clear, capital market players pin high hopes again on BJP-led coalition with Yashwant Sinha continuing as the finance minister.