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Month: July 2013

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“Sell in May and Go Away” Proved Right for the first time since 2001

July ends with a –1.7% return on the Nifty and it is the first time since 2001 that we have had a negative June followed by a negative July. This is not huge ...

Just Three Sectors Have Propped Up the Market in 2013

You don’t know how tough this market is until you’ve seen the carnage in the stuff that is not the Nifty. First,the broad Indexes this year: While the ...

NSE Halves Inter-Strike Distance from September

NSE has changed the Nifty strike prices to be 50 points between strikes, rather than the 100 points it is now. In a circular, the new strikes will magically ...

Chart: 10 Year Bond Flip-Flops and Ends at 8.25%

The RBI credit policy today may have been a non-event but it certainly seemed to be eventful for bond markets. The 10 year benchmark bond (2013) first saw ...

RBI Says…Nothing.

We have a boring macroeconomic policy in which NOTHING happened. This is horrible for media companies and TV companies who have lined up experts to speak ...

The Housing Bubble in India Continues, Some Corrections Visible

RBI has released the latest data for their House Price Index and it looks like the mad pace of real estate price growth has mellowed, but only slightly. Price ...

RBI Finally Admits the Importance of Consumer Price Inflation

The RBI has always concentrated on Wholesale Price Index (WPI) based inflation. As I’ve noted, there is a huge difference between inflation in wholesale ...

IIB Auction Fails: No Bids Accepted

Remember Inflation Indexed Bonds? They’re back. Oh, wait, they’re not. RBI thought they’d sell 1,000 cr. of bonds today. They even got underwriters and ...

IndiaBulls Relists But Hits 4 Consecutive Lower Circuits; ESOP Sellers Or Something Else?

Indiabulls Financial Services merged with Indiabulls Housing Finance, and shareholders in the old company have the same number of shares in the new entity. ...

Tech Note: Nifty Poised for Further Fall

The Nifty has just crossed below its 20 and 50 Day Moving Average and has reversed 3% from recent highs. Additionally, after a decent run, the MACD has turned ...