The markets appear to be on the verge of a take-off while significant upside is likely in the short term, said former BSE president Deena Mehta. "The markets appear to be on the verge of a take-off, and I see that a significant take-off happening within six to nine months period," Mehta, who is the chairperson of Indian Merchants Chamber's (IMC's) Capital Markets Committee, said.
Over the past one or two decades, dynamics of the domestic stock markets have completely changed, giving rise to 30-40 percent short-term machine trading, wherein companies keep on generating orders in large numbers. In this fleeting, volatile scenario, retail investors have become a confused lot, she said over the weekend.
"Despite such negative factors, the domestic markets had held on owing to a robust underlying optimism and positive economic indicators. After losing 25 percent in 2011, the market has gained over 12.5 percent in 2012," Mehta said.
SBI Mutual Fund CIO Navneet Munot told a seminar organised by IMC here that the current phase of volatility is due to poor governance at the Centre, besides economic crisis faced by many countries in the Eurozone, policy paralysis and political indecision resulting in lack of key structural reforms.
"However, I feel it is going to lead to some action from the government now, which was missing and had caused concerns for investors," he said, adding the investors need to take the right step at right time to invest in companies/instruments that can give "above normal" returns.
Etihad's Rs 2,058-crore stake purchase in Jet Airways has hit a regulatory air pocket, as regulators are seeking more clarity.
Marking nine years of the UPA government, PM Manmohan Singh promised to build "an economically resurgent and socially just India".
Former Goldman Sachs Director Rajat Gupta's attorneys said wiretap evidence used by the prosecution should not have been introduced at trial stage.
After more than three weeks, Mumbai traders on Monday called off their strike against Local Boy Tax (LBT).
Information and technology outsourcing service provider iGATE has sacked President and CEO Phaneesh Murthy for not informing the company board about his relationship with a subordinate employee.
Yahoo will meet to consider approving a $1.1 billion acquisition of online content-sharing site Tumblr in a deal Mayer negotiated, according to the technology news site All Things D.
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