However, a leading bourse of the region, Saurashtra Kutch Stock Exchange (SKSE), had a pay-in valuing worth Rs 3.5 crore only, said Ashok Koyani, CEO SKSE Securities while adding that it was all safe with the bourse. |
Despite the region over-flooding speculators and day time traders, the scenario in Saurashtra-Kutch was safe and sound, assured Ketan Marwadi of Marwadi Shares and Finance. |
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"The zooming of Sensex from 11,000 to 12,000 was pretty fast and the buying rally was at its peak-time. Unexpected funds were mobilising quickly in the stock market so this drop was expected," said Ketan. However, this has not affected the F&O segment for majority of them are traders and not investors, he added. |
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It's only that to mobilise market equally in selling pattern, this sudden shock treatment from FIIs, has probably served the purpose, Marwadi further said. |
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Shashikant Koticha, industrialist and an analyst said, "The policy of government for cement lobby in the free trade regime has also by and large played a pivotal role for this situation, following the decision of FIIs to sell out few Rs 1000 crore worth stocks." |
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However, this tremor has just jerked the expectations of the investors, otherwise overall scenario of the stock market is sound, results are good and market is also quite strong, added Koticha. |
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As far as F&O category in the Saurashtra-Kutch region is concerned, Koticha said, "As majority of them being in speculation business, such roadblocks would impact them too. But comparatively they move fast in when compared with a pace of normal investors, so pay-in volume from this region even in F&O category cannot be marginally high, resulting to diffuse their power-play mode." |
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Investors from the region however, consider the increasing dominance of Leftist in government, plugged with US Dollar rising and Crude Oil prices scaling in international markets, as one major criteria compelling FIIs to sell their stake. |
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"As the Left in Centre is slowly becoming strong with the resent poll results in the states of West Bengal and Kerala, FIIs are fearing they would compel UPA government to review their economic policies," said Manoj Gandhi, an investor from city. |
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"To avoid further roadblocks and to probably even control the economic life line of the nation, FIIs have come forward to sell their stake initially, trying to convenience investors that there is something really wrong, resulting aftermath in stock market and compelling government in power to have friendly business environment for them, this ditch in the Sensex has occurred," he said. |
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"Dollar is becoming stronger and prices of crude are flaring, so from where do your manage the gap but from the nation where economy is sound and is under control," he added. |
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