“@b50: India has 125cr people. Only 2.2cr have a demat account, 3.3cr have equity mutual fund folio. #Sensex crash does NOT matter.”
“@b50: And finally, in terms of value, FIIs hold 22-23% of the market, vs 9-10% by local institutions. #Sensex crash does not matter.”
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We were protected because Equity market is not considered a safe investment in India. So not many are invested in it. And ironically this latest bust will only make that belief stronger.
200 stocks defy market bloodbath
Among others, Videocon Industries jumped 4.36 per cent to an intra-day high of Rs 143.30, while Sunrise Asian was trading with gains of 0.81 per cent.
Other stocks that were trading in the positive zone include – Orissa Sponge and Iron (up 17.83 per cent), Emami Infrastructure (up 11.83 per cent), Jindal Worldwide (up 4.55 per cent and Binny Mills (up 4.38 per cent) among others.
More at Rediff.com
Quite surprised none of the big companies were in the 200. Videocon is only slowly turing around from its heyday. The other companies on the list need good global markets, so really surprised to see them in the green.