Indian Markets can excite you more than any reality show or sports t.v. ever can. Today was one such days, the numbers themselves probably spell disaster, however once you start imagining the carnage in the lives of those unfortunate ones who were highly leveraged in this bull market, it dawns on you as one of the biggest reality shows in the nation.
There were punters, horse-traders, and pure betters who were begining to take hold of Indian Markets, and would go home tonight to lick their wounds and perhaps with the knowledge that Indian Markets are just that, another set of emerging markets where mayhem and chaos rules roost.
Watching the action live as it unfolded was extremely exciting, but seeing 21-Jan being permanently etched in Indian Stock Market history was extremely satisfying too. For the record I lost about Rs. 5K held in ULIP, but I can afford to smile. Not many can.
The usual set of monkeys were freely making predictions about the future, and how the markets will bounce back. These shameless experts are only good at reading numbers that are past-tense, to even take their word about the future is foolhardy. Its' not surprise that Indian Markets crashed, after all, India isnt on Planet Jupiter, its' on terra-firma and every other nation can dictate the course in Indian Financials.
Valuations are now suddenly the flavour of discussion, however the "fundamentals" many take for granted are about to be questioned. No one in their sane mind would be able to predict the extent of US recession (if any) and its' impact on Indian markets, yet the euphoria doesnt abate.
Let's hope and pray that just like the stock markets, the real-estate markets would firmly head towards where it belongs. It's high time....
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