What aided the rally, of course, was the relentless fund flows from global investors who now have fewer exciting markets besides India.
It was the same investment community which hammered the stocks though there was also enough support from the local traders who had built positions beyond their capabilities. As a result, the super profits of 2007 disappeared in a matter of two trading sessions.
Though local mutual funds and institutional investors did their shopping, it couldn't stem the negative pressures on the market.
With foreign institutional investors (FIIs) still preferring to book profits and keeping away from Dalal Street, one wonders whether the equity story has lost its steam.
It was the same investment community which hammered the stocks though there was also enough support from the local traders who had built positions beyond their capabilities. As a result, the super profits of 2007 disappeared in a matter of two trading sessions.
Though local mutual funds and institutional investors did their shopping, it couldn't stem the negative pressures on the market.
With foreign institutional investors (FIIs) still preferring to book profits and keeping away from Dalal Street, one wonders whether the equity story has lost its steam.
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