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Month: December 2011

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Off to Bangalore, Happy New Year

This blog will most likely be in the twilight zone for the next 15 days as I go to Bangalore for a vacation with the family. Best wishes to all of you and your ...

The Year 2011

From my year-end piece at Yahoo: 2011 would be best forgotten by the Indian markets. Stocks have fallen around 25%, making it the second worst year in market ...

The Disgust and the Distrust in Money

Your banker tells you an account has no fees, but later you find yourself charged a fee for “opening charges”. A broker tells you they charge you X, but ...

NSE Volumes at a 5 year Low

With a turnover of just 5138 cr., December 26, 2011 has taken volumes to a (near) five year low. (You have to ignore Diwali Mahurat trading days, the big upper ...

Chart Of The Day: Liquidity Of The Banking System

I spoke of the Marginal Standing Facility recently, and today we take a look at liquidity in terms of how much banks are borrowing from the RBI overnight: Over ...

Direct Tax Code May Be Deferred, Again

The government may defer the Direct Tax Code by a year, even though Pranab Mukherjee mentioned as recently as Dec 7 that he would bring it in force from April ...

The Marginal Standing Facility

In an attempt to unravel what’s happening with liquidity in India, let me explain a new concept called the Marginal Standing Facility (MSF). When you deposit ...

Chart Of The Day: Horrible IPO Performance

How useful have IPOs been in the last two years? Not very, it turns out. (Click to enlarge) The average return, till date, is (– 30.1%). The index has ...

PA Inflation Now At 3.78%

Inflation at the Primary Articles Level is now at the lowest since 2005. (I couldn’t get the earlier data since it’s in a different base year) This was the ...

Market Snapshot: 4% recovery from 2 yr lows

A quick post about how the markets have done over the last few days, in both reaching a two year low (lowest since August 2009) and then doing a 4% recovery ...