Markets were down today, the Nifty was down by 40 points at 10696, the sensex was down by 95 points at 35227. The Foreign portfolio Investors, have been making more sales than purchases.They are, overweight on NBFC and cement and underweight on energy.
Tata Motors gained 2% at 288.35, after may sales rise at 58%. Ashok Leyland jumped 2.7% at 152/,after a 50%jump in may number of sales. Mid caps and small caps are falling due to a lot of selling and the declines are more than advances. There is a fear of auditors resigning, after the Manpasand Beverages episode. The problem with Icici Bank Chairman Chanda Kocchar husband financial involvement with Videocon is a sword hanging over the head.
The regulations are strict now, so a lot of scandals are coming out. Good by all means, as prudent financial practices are coming thereby making share holders money safe.