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PaintStocks Sector

Paint Stocks on a Roll

Despite this bearish market, most Paint Stocks seem to be hitting their 52 week highs or are quite close to them

Stock Latest Close 52 Week High
ASIANPAINT 3623.85 3708.75
BERGEPAINT 129.85 129.85
JENSONICOL 2.85 6
KANSAINER 913.05 955.7
SHALPAINTS(bonus adjusted) 445.55 486

 

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Video

Marc Faber on whether Greece will exit the Euro

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Quotes

What was that again?

“Equity markets should not occupy more than 20-30% of your liquid net worth because in the long run equities will not give much returns and it’s better to have a time horizon of two years, and no more, in this game.”-Shankar Sharma, CEO of brokerage First Global in an interview

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Observations

Another one bites the dust

There was an article in the Indian Express which mentioned that 6000 sub-brokers shut down shop  this year.

Now there is an article in ET about how well known broker Shankar Sharma is bidding goodbye to Dalal Street.

Brokers in India are fast becoming an endangered species…thanks to lackluster volumes,abolition of entry loads,increasing compliance ,rising employee costs and possibly the biggest reason of all-customer distrust.

Its fairly clear we are treading the US path here…small mom and pop shops will close down and the only survivors will be the discount brokerages and the big players.