desichatter posted Re:Stock market is down on 1 month ago
The Indian stock market was technically oversold and was due for a bounce...however it is going to be a mirage...don't get sucked into it right now. When bottom hits, nobody will be talking about stocks anymore....several companies will hit bankruptcies, consumers will be stretched to the limit and an overall environment of gloom will pervade the society. We are nowhere close to the bottom. So the best thing to do is sit tight for the next few months.
Afa INR-USD goes, INR is surely going to fall...trade deficit is burgeoning and the current government and RBI doesnt have the will to do anything about it...and even if they have the will, it might not be possible...
For Indians, the best position would be to be in Gold.. Kotak Gold MF or Reliance Gold fund are a few that come to mind.
Propagandhi122 posted Re:Stock market is down on 1 month ago
TBT,
you need to open a demat account with your bank. ICICI's automaticaly doing that with any new accounts, but it's easy to open(by desi standards) if you have an NRE account already. then you link your checking acct with that for fund transfers and such.
Even in desh, companies that buy iron ore and other metals and convert it into billets for use by industrial houses are still doing good. they have the elusive 'pricing power'. and best of all, they sell to china. might be a good idea to buy some. I know quite a bit about this company called navbharath ferroy alloys (NBFAL). look into buying it for a pop later in the year.
Truthbetold3 posted Re:Stock market is down on 1 month ago
Would that be like an e trade account? Meaning I can pick the stock I want and buy and sell when I want. I do not have to talk to a stock broker or something for every transaction.
NBFAL - Thanks for the tip on the symbol. I am familair with that group. I visited their Palvancha plant few years after start. Pretty decent group of entreprenuers.
Propagandhi122 posted Re:Stock market is down on 1 month ago
it's very similar to etrading accounts. NBFAL is doing great these days...split 4:1 and back up around 220+. will probably continue to do well given that they're able to raise prices without a blink from their consumers.
Propagandhi122 posted Re:Stock market is down on 1 month ago
that's a small side business of theirs. they positioned themselves well over the past 10 yrs into lucrative areas of the market..power generation (small power plants exclusively for industrial use) etc. doing well.
desichatter posted Re:Stock market is down on 1 month ago
At this point, I have nothing invested in Indian stock market right now....I had an ICICI direct account, but I closed it last year. I used the money to buy Gold coins at ICICI, some art work, and I gave the rest to my parents (who put it in a fixed income CD)....
desichatter posted Re:Stock market is down on 1 month ago
The term 'fundamental' is used very loosely nowadays. ...especially by people who have no clue what fundametal investing entails.
The fall in the market can be directly attributed to tight monetary conditions. There are three entities that spend - consumers, corporations and government. Right now, all three entities are clamping down on spending. High repo rates are clamping down on consumer spending on discretionary items (real estate, autos, etc) and spending more on essentials (food, oil, EMI payments, etc). Corporations are clamping down (slowing FDI flows, high oil prices, salaries) because borrowing costs have increased dramatically and equity markets are stalling. Government is clamping down on spending because it could trigger a balance-of-payment crisis. All in all, there doesnt seem to be a ray of hope - other than unalloyed speculation from a naive investor.
Real estate stocks are the canary in the coal mine. Look at Indiabulls Real Estate Index and you will see where the market is headed in the not-too-distant future!
What do you think will happen to INR-USD Exchange rate ?
Afa INR-USD goes, INR is surely going to fall...trade deficit is burgeoning and the current government and RBI doesnt have the will to do anything about it...and even if they have the will, it might not be possible...
For Indians, the best position would be to be in Gold.. Kotak Gold MF or Reliance Gold fund are a few that come to mind.
How do you invest in Indian stock market from US?
Do you open stock accounts in ICICI?
What are some of the good alternatives?
you need to open a demat account with your bank. ICICI's automaticaly doing that with any new accounts, but it's easy to open(by desi standards) if you have an NRE account already. then you link your checking acct with that for fund transfers and such.
Even in desh, companies that buy iron ore and other metals and convert it into billets for use by industrial houses are still doing good. they have the elusive 'pricing power'. and best of all, they sell to china. might be a good idea to buy some. I know quite a bit about this company called navbharath ferroy alloys (NBFAL). look into buying it for a pop later in the year.
NBFAL - Thanks for the tip on the symbol. I am familair with that group. I visited their Palvancha plant few years after start. Pretty decent group of entreprenuers.
Is NBFAL also into scrap recycling? I heard this seems to be a booming new business?
What is happening with scrap business? I heard that some small industries are coming up and doing well?
In US there is one company that did very well selling scrap to China(no pun intended).
I do agree fundamentally the market was down because of oil and international economic downturn.
But recent down and up are due to the N deal and MMS resignation threat.
Looks like SP and Shiv sena will bail out UPA in case of N deal problems in Parliament.
I say check Uranium stocks for a bounce.
The term 'fundamental' is used very loosely nowadays. ...especially by people who have no clue what fundametal investing entails.
The fall in the market can be directly attributed to tight monetary conditions. There are three entities that spend - consumers, corporations and government. Right now, all three entities are clamping down on spending. High repo rates are clamping down on consumer spending on discretionary items (real estate, autos, etc) and spending more on essentials (food, oil, EMI payments, etc). Corporations are clamping down (slowing FDI flows, high oil prices, salaries) because borrowing costs have increased dramatically and equity markets are stalling. Government is clamping down on spending because it could trigger a balance-of-payment crisis. All in all, there doesnt seem to be a ray of hope - other than unalloyed speculation from a naive investor.
Real estate stocks are the canary in the coal mine. Look at Indiabulls Real Estate Index and you will see where the market is headed in the not-too-distant future!