Moorat, motichur and mantras

SMART PEOPLE

What with the Sensex almost touching the 6000 mark in the run-up to Samvat 2061, Falguni Nayar at Kotak Securities had not time to do any Diwali shopping.

"I haven't bought any sarees this year," she says, "because there was no time. Just look at the market." True, the markets are on fire and more than set the mood for Diwali and Moorat trading.

While the fund community took a break from the markets and gave in to gambling instincts, the broking fraternity celebrated the occasion by praying to the Goddess for a repeat performance in Samvat 2061.

Over time Moorat appears to have lost a lot of its solemnity - motichur laddoos have given way to chocolates and chopdas to computers. The change in attitudes of the older generation is apparent. The tradition of distributing presents and sweets to clients has been discontinued by most brokers, just as funds have stopped doing token trades.

However, the puja in brokers' offices is still a must and in many brokerages the practice of handing out token sums of money still exists.

The dress code varies, many discarding the traditional attire for more comfortable clothing. But, the two-hour trading session, which is supposed to set the tone for the year, lives on.