Yesterday's rally must have brought some relief to the beleaguered players who have been taking a pounding over the last week. However, it is too early to say whether the rally can be sustained over the next few days. The outstanding position on the Bombay Stock Exchange (BSE) has gone up by about Rs 208 crore. The fact, however, remains that foreign funds are unlikely to turn aggressive buyers at these levels.
Token purchases
The disappointing results from the cement sector might have come as a big blow for fund mangers who have taken a big exposure to cement sector during the latest quarter, the Savvy Fund Manager also being one of them. However, he seems to prefer cement stocks at current valuations to some of his other favoured software counters which have come down sharply over the last few trading sessions.
More From This Section
Long queue
After Big Daddy, Uncle Sam and Life Boat, even Co-Tech Mutual Fund has turned a buyer at the SSI counter. The scrip had held steady at the bourses despite the 500 point fall in the last four trading sessions. According to fund managers tracking the counter, the fact that the company is offering more of short-term courses rather than long-term courses is the main reason for the renewed look. With technology changing rapidly, players