Click to play videoMumbai: It’s clearly a Diwali bonanza this October at the stock markets. Cameras on standby, eyes riveted on the screens and then it came -- the celebrations at Dalal Street accompanied by a new high that the stock markets breached.
According to an expert stock broker, “The good part is that over the course of the last few days we have seen the breadth of the market improve which suggests that retail money is coming back into the market.”
The differences in this rally though are the confidence levels that probably prompted Chartered Accountants S.Vedula and Paresh Sutaria to suggest the stock market as a good investment option to their clients.
Vedula says, “When there's solid growth and you are investing in sectors that are good why should you not ride the growth wave? The country will do well in the long run. I think that the money we make here much better than what mutual fund per se is offering you.”
Paresh Sutaria added, “Fundamentals are strong. India is shining.”
Their ideas are mirrored by 43 year old Tribhuvan Tewari, a press photographer with a regional newspaper, who invested in the markets after he witnessed action during one of his trips to a trading room on work. He says, “The market has done so well that it feels really good. I started small but look where it’s got me.”
But not everyone is happy, there are many who wrongly timed the markets.
An investor said that he never expected markets to reach the 20K mark. He says he wished he'd waited longer before he sold off.
It is a month that could very well be etched in the stock market history -- three milestones all in October 2007. The question already in the minds of investors is now is where to from here.
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