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Seven Muhurat Buys

| 11/1/2012 9:00 PM Thursday

The auspicious festival of lights, prosperity and opulence is just around the corner. But the way the markets have been rallying ever since the government stepped up the ante on the reforms front, celebrations already seem to have begun out there. The sentiment has switched from one that was largely dull, gloomy and worrisome to one full of cheer and optimism.

A quick flashback of the situation during the same period last year would bring back images of a worried market reeling under various pressures. From an impending slowdown in economic growth to a paralysed government devoid of strength to carry out any meaningful reforms, and from rising inflation to higher interest rates, nothing seemed to be right for the Indian market then. While this was happening on the domestic front, the global scenario was not too different. In fact, worries on the US and the Euro zone front were even more pressing.

But as they say, days change, and they did. We, at DSIJ, were among the first to recognise the changing pattern of the market, and are indeed glad that we have been instrumental in helping investors seize the opportunity at the correct time. The Sensex has moved up significantly, rising by almost 11 per cent since last Diwali, a major part of this happening over the past four odd months ever since the government kicked off the reforms process.

Things have not changed overnight and the improvement has been gradual. There are many factors that helped the Sensex move into a new orbit. Let’s take a look at what has happened in Samavat 2068 and what to expect from Samavat 2069. For starters, our portfolio of stocks recommended as ‘Muhurat Buys’ last year has provided astonishing returns of 29 per cent as against the 11 per cent rise of the Sensex (See Box: Performance of Diwali 2011 Muhurat Buys). This clearly indicates our standard of research, which has always been at the core of wealth creation for our readers.

The year since the last Diwali has been a real roller coaster ride for the Indian markets. There were many factors that impacted the markets negatively. The very important one was an economic slowdown, not just on the domestic front but also globally. While the US market never conclusively got out of the 2008 meltdown, the Euro Zone sovereign debt concerns only added to the woes. The impact of this was clearly visible, with leading global indices witnessing a decline or remaining largely subdued.

The Indian market too was not untouched by all this mayhem. What added to the difficulties in India was a complete policy paralysis which brought the India growth story to a virtual standstill. Matters worsened further as the rupee depreciated significantly (touching an all-time low) against the dollar. A higher inflation not only resulted in higher interest rates, but also impacted margins of Indian companies. No wonder, the financial performance of India Inc. only deteriorated.

 

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