What is it with this jump of 500+ points in the sensex today? I thought we were going into a lull with the upcoming holiday season. But why worry if the stock market seems to be in a hurry. I took some rates from my broker and I realised that it is these ver few large cap stocks which took the whole index up today! I think this could be another platform for a broadbased rally. Whatever happened to those interest rate hike fears?!
I think this move calls for caution. The quarterly results in the next month will see a lot of shuffling in portfolios. So, if one has been discounting the FY10 results with high growth rates, I think this will be the time to start getting weary of the valuations. After all, who has ever bought them at the lowest prices and sold them at the highest?! So, keeping a close watch! By the way, I have fewer companies in my portfolio than at the beginning of this month! So I am on my way!