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Europe Summer Meltdown
Category: Observations
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Sell the News
The Govt hiked petrol prices by Rs.7.50 Rs/Liter.
The markets reacted as usual by selling the news.The price action of the PSU refiners were:
IOC: -1.32%
HPCL: -1.74%
BPCL: -0.03%
And this on a day when the Nifty is up by 1.77% !!
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Europe is imploding !!
(source:Bloomberg)
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Did you know this about Japan?
Sales of adult diapers in Japan exceeded that of children’s diapers for the first time last year.-TokyoTimes
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When the going gets tough…
In our parent’s generation, getting a sarkari (government ) job was the ticket to a comfortable life
This changed post 1991 when the winds of economic liberalization shook India
But now, it looks like those times are back.
All participants in India’s equity markets are facing unusual stress.But our regulator SEBI seems do be doing great.
An article in ET states :In its budget for 2012-13, Sebi has put aside around 281 crore for the acquisition of office and residential premises. This amount includes acquisition of new office premises or plot of land in BKC for additional office space in Mumbai, setting up of five local offices at new locations, purchase of flats for senior executives at Mumbai and also the purchase of office space for a northern regional office at New Delhi.
Bottom line: When the going gets tough, the regulator gets moving !!