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COVER
STORY
The
Magical 10K
- - Arindam Banerjee
BSE
Sensex touched the magical 10,000 mark on February
6, 2006. The journey of Sensex started from July
25, 1990 when it touched the 1,000 mark. Though
the Sensex experienced an intra-day fall below
10,000, the journey will not stop here. This article
discusses the journey of Sensex and its upward
trend.
©
2006 IUP . All Rights Reserved
COVER
STORY
FIIs:
The Trigger Behind 10K
- - Vinay Kumar MPM
The
Indian stock market has been moving northward
with strong FII inflows. It has attracted more
than $9 bn in the year 2005. The FII inflows have
helped the BSE Sensex to scale the 10,000 mark,
making it the fourth stock market in the world
to reach this position. This article considers
the FII factor and its impact on the Indian Capital
Market.
©
2006 IUP . All Rights Reserved
IPO
Public
Offerings Saga of Scams
- - Resham Jain and Prashant Shah
The
Indian capital market is under the scrutiny of
the regulator. The IPO scams have hit the investors
really hard. Sebi is doing its best to retain
investor confidence. It is now to be seen what
awaits the retail investors.
©
2006 IUP . All Rights Reserved
CAPITAL
MARKETS
Global
Capital Markets Deepening
- - Anandan Pillai
Global
capital markets have undergone a gradual shift.
For creation of wealth, capital market plays a
major role. But the investors have to keep track
of the developments in the Global Capital Market.
This article explores the changing trends of the
global capital markets.
©
2006 IUP . All Rights Reserved
INVESTMENT
CLIMATE
India:
Santa Claus Favorite
- - S Aravanan
The
stock markets did considerably well at the year
end rally, popularly known as the Santa Claus
Rally. It seems that Santa Claus has blessed India
and given it everything. This article explores
the understanding of the market movement.
©
2006 IUP . All Rights Reserved
REGULATORY
ENVIRONMENT
Sebis
Four Pronged Strategy
- - Resham Jain and Prashant Shah
Sebis
recent move to prevent market manipulations is
laudable. Among the major initiatives, encouraging
disclosure norms by companies, Electronic Clearing
System and optional grading for brokers and IPOs
are worth mentioning. This article probes into
these recent initiatives taken by Sebi in this
direction.
©
2006 IUP . All Rights Reserved
REGULATORY
ENVIRONMENT
IPO
Rating: A Primer
- - B Sravana Kumar
Sebi,
in its role as a regulator of the capital market
and safeguarding the investors, has announced
the professional rating of IPOs and also the registered
brokers, a service that is not available on any
other bourse across the world. The primary objective
is to enhance governance issues. The article speaks
on related issues.
©
2006 IUP . All Rights Reserved
REGULATORY
ENVIRONMENT
MAPIN:
Regulators Woe or Investors Blues?
- - G Chandi Kumar
In a period marked by phenomenal growth of
stock indices and investor confidence, regulators
are expected to pull out all the sops to ensure
an environment free from price manipulations,
fraud and market malpractices. But is Sebi up
to the task? Will investors be fortunate enough
to trade in immaculate markets?
©
2006 IUP . All Rights Reserved
FUNDAMENTAL
ANALYSIS
Book
Value: Fundamentally Strong
- - Sanjeev Kumar
In
a volatile market like ours, sticking to fundamentals
may prove worthwhile in the long run. Among the
fundamental measures available, book value may
be a sound measure of a companys stock. This
article discusses book value as a method of measurement
of a companys stock in greater detail.
©
2006 IUP . All Rights Reserved.
BOOK
REVIEW
The
New World of Derivatives
- - K Seethapathi
The
recent development in the financial sector has
made the derivatives market more attractive. This
market grew manifold within three decades. Today,
a number of different derivative instruments are
being developed and used. This book provides a
detailed account of the latest innovations in
the field of derivative instruments with a special
focus on commodities derivatives.
©
2006 IUP . All Rights Reserved
DERIVATIVE
DESK
Derivative
Alerts on Recent Expiry (DARE)
- - Aalap Rashmikant Shah
The
February expiry, which was a preursor to the March
expiry when the budget would be announced, has
been one of the most exciting expiries where one
saw the open interest touching new highs of Rs.
400 bn and more, felt the nervousness set in the
market due to budget uncertainties and so on.
The number of trading days was 19, starting on
January 27, 2006 ending February 23, 2006, as
compared to an average of 21 trading sessions
of all expiries till now. Nifty touched an all-time
high of 3051 on February 14 and like all previous
expiries where it fell upon crossing crucial levels,
it fell down to 2956 on February 20. The fall
was of 96 points (approximately 3% from top).
©
2006 IUP . All Rights Reserved.
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