Before I start off on my promised Anti-Sonia tirade, yesterday’s crash wasn’t caused by any dark conspiracy by the BJP. There was no Ketan Mehta or Harshad Mehta style manipulation this time. It was entirely due to FIIs pulling out. So unless you think that Yashwant Sinha’s son and daughter-in-law have such disproportionate influence on the FII community as to influence decision-making among all of them, your conspiracy theory is simply over the top. The crash was caused by FIIs losing their nerve and pulling out, because of the loony statements that the Left was making.
12 thoughts on “But before that… about the FIIs”
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Jivha, clearly, seems to have decided to use the BJP-conspiracy story for whatever problems are going to happen in this Congress government.
And I feel the Cartel is very clearly biased.
Wrong Ravikiran. Yesterday’s fall wasn’t “entirely” due to the FII’s pulling money out. A major part of the crash was caused due to margin calls that resulted from Friday’s fall.
Business Standard: Huge margin calls triggered free fall
While that doesn’t place the BJP at blame, it also doesn’t support the commonly held notion that Monday’s fall was “entirely” caused by “FII’s pulling out money en-masse”.
Jivha has posted a non existent link….the extent one can go…..I have stopped henceforth going to his site!
And the deaths at the WTC wasn’t entirely caused by planes hitting the buildings. Some of it was also caused by people falling off the burning buildings.
Ravi, not just FIIs — Indian investors too were put off by the loony left. But as the FIIs have much less reason to hold on to India while other emerging markets beckon, they sold much more.
Jivha, “margin calls” by whom? The BJP top brass? I suspect the vast majority of those margin calls were made by FIIs
Sathish, the cartel thinks you’re very biased too. But instead of moaning about biases we’ll fisk you when we’re in the mood 😉
I agree with you Ravi..We will have to blame the left for not shutting their mouth when it mattered most.
Yazad, the margin calls were made by banks who lent on the basis of stocks.
What the heck? I’m surprised nobody has posted a comment about the irresponsible media having given publicity to the Left’s remarks and being responsible for the crash.
C’mon, we need a loony comment like that here!
What about software applications – which probably started selling as soon as prices touched stop-loss limits?
One heartening statement from Manmohan was that while privatisation of oil companies is bad, disinvestment of their stock will continue. That’s not too different from the NDA.