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Cheer up, sensex looks good, say brokers

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  • “Though the sensex may be at its best in the past few months, and has strengthened further after the elections, exercise caution while investing in the share market.”

    This is the advice by brokers, who say it’s the time for old investors to earn profits and for the newcomers to jump and make some quick money.

    “Earlier, only 20 per cent of the regular investors and traders were active in the market. Now, around 70 per cent of these active investors are back in the market on daily basis,” M L Batra, a Panchkula-based broker, says.

    For Batra, the sensex crossing the 15,000 mark is a perfect time to book profit, especially for those who had been sitting on huge losses after the index plummeted to 8,000 last year.

    “Old investors are booking profits, but new investors are still shying away from investing. We also don’t see any rush to open demat accounts, as confidence is yet to return among small investors,” Batra adds.

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    His advice is to not panic by the daily ups and downs, as the markets are looking up to stability.

    Investment in gold is still favoured, as experts do not see gold prices coming down significantly in the coming weeks.

    “This is certainly the time to cover up the losses and make profits. With the markets becoming more consistent, the young and first-time investors would once again come to the market,” says a Sector 17-based broker.

    7By: HAMAD | 12-Oct-2009 Reply | Forward JUST PROPOSAL FOR MY>THANKS FOR WORKING TO US
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