'The market looks healthy to me'
Ramesh S Damani expects the Sensex to hold at the 3495 level. He is hopeful of a recovery in tech stocks.
Mr Ramesh Damani (Wed Oct 25 19100 3:53 IST)
Hello everyone thanks for joining. Let's start
abby (Wed Oct 25 19100 3:54 IST)
what do u think of the market?
abby (Wed Oct 25 19100 3:56 IST)
do u see a tech bounce back happening after diwali?
Mr Ramesh Damani (Wed Oct 25 19100 3:56 IST)
abby - The market looks healthy to me. The market bottom of 3495 should hold.
aman (Wed Oct 25 19100 3:56 IST)
what's happening in GE shipping and what's ur view on the entire takeover episode?
Mr Ramesh Damani (Wed Oct 25 19100 3:58 IST)
aman - GE looks great. buyback should be in the Rs 40 range. Takeovers are the best thing that could happen in India.
rohit (Wed Oct 25 19100 3:56 IST)
Happy Divali Mr Damani. do you see any light at the end of the tunnel?
Mr Ramesh Damani (Wed Oct 25 19100 3:59 IST)
rohit - i do. Market should rally in the last qtr.
Basant Maheshwari (Wed Oct 25 19100 3:57 IST)
What is wrong with visual soft?They are the only products co. in the s/w sector. Is the Danlaw hangover acting as a hurdle
Mr Ramesh Damani (Wed Oct 25 19100 4:0 IST)
Basant - Rolling and the Danlaw controversy. However they are doing well. I expect the price to do well..
mayday (Wed Oct 25 19100 3:57 IST)
what do u think of the pharma stocks?
mayday (Wed Oct 25 19100 3:58 IST)
how do u see the pharma results that have come out so far? does this indicate a rally in pharma stocks?
Mr Ramesh Damani (Wed Oct 25 19100 4:1 IST)
mayday - good but cannot be overweight in pharma.
mayday (Wed Oct 25 19100 4:2 IST)
why is it so?
Mr Ramesh Damani (Wed Oct 25 19100 4:9 IST)
MAYDAY - poor growth and profit compared to tech
bala (Wed Oct 25 19100 4:8 IST)
Can we expect the market has bottomed out
Mr Ramesh Damani (Wed Oct 25 19100 4:9 IST)
bala - yes. I am keeping my fingers crossed.
mayday (Wed Oct 25 19100 4:11 IST)
but it will give me heart attacks?
Mr Ramesh Damani (Wed Oct 25 19100 4:12 IST)
Mayday - at 3700 on the Sensex even our b/p (blood pressure) is down. It will be volatile though.
bala (Wed Oct 25 19100 4:10 IST)
are software stocks attractive at this level
Mr Ramesh Damani (Wed Oct 25 19100 4:13 IST)
bala - yes. Infy, NIIT, Digital look good. We will see the performance of Visual and Software Solution before calling it.
bala (Wed Oct 25 19100 4:14 IST)
is dsq software looks good at this level
bullbull (Wed Oct 25 19100 4:15 IST)
is not the diwali sentiment rather bearish
Mr Ramesh Damani (Wed Oct 25 19100 4:16 IST)
bala - avoid dsq. bullbull - it is. Poor spending. Index down. However I am hopeful of a recovery in tech stocks
satyaprakash (Wed Oct 25 19100 4:16 IST)
what's ur view on the crisis in West Asia and the possible fallout of a war breaking out in that region?
Mr Ramesh Damani (Wed Oct 25 19100 4:18 IST)
satya - it worries me. However I think it is a bit stage-managed for the US presidential cycle. It will blow over in Jan 2001.
bala (Wed Oct 25 19100 4:18 IST)
Are tech stocks likely to be affected by MSCI weightage
Mr Ramesh Damani (Wed Oct 25 19100 4:18 IST)
bala - yes. India weighting will come down.
Maresh Madani (Wed Oct 25 19100 4:19 IST)
Some so-called experts said Sensex will touch 6000 by Diwali. Reality is otherwise. They must have been senseless, when they said that. Right?
Mr Ramesh Damani (Wed Oct 25 19100 4:21 IST)
Maresh - stock market forecasting is a tough art. To get it consistenly right is almost impossible. almost.
Maresh Madani (Wed Oct 25 19100 4:21 IST)
How has your broking community adopted to the Internet age? When muhurat puja is done for the name sake tomorrow, will tears roll down the stockbroker's cheeks for old times' sake?
Mr Ramesh Damani (Wed Oct 25 19100 4:23 IST)
Maresh - any institution (BSE) which is 124-years old has to adapt. Or they die. I believe they will adapt.
Maresh Madani (Wed Oct 25 19100 4:23 IST)
London and Frankfurt have merged. Can NSE and BSE merge, by any stretch of imagination?
Mr Ramesh Damani (Wed Oct 25 19100 4:26 IST)
maresh - it could happen 5 years from now. Tech spending will force rationalisation.
Basant Maheshwari (Wed Oct 25 19100 4:23 IST)
How do u find the prospects of shyam tele?
Mr Ramesh Damani (Wed Oct 25 19100 4:25 IST)
Basant - there are better pickings.
Mr Ramesh Damani (Wed Oct 25 19100 4:27 IST)
thanks for joining in. Have a prosperous week and new year.
Money
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