The writing in this post are not related to stock market or the companies or the persons in any manner. This is just a fun write up trying to imagine what might run into a person's head when he is deeply involved in a thought. Assume you are a stock market broker or a reporter and you have been thinking all day about Mr Anna Hazare & India. Suddenly, at the end of the day, you are asked to present the Market Performance Report for the day. What would it be like? Something like this?
Indian markets opened in the green as India launched its Second Independence Movement. However, the Indian Markets were shocked to see that Social Activist Anna Hazare & Team were arested and taken to an undisclosed location. Following this, the markets seem to lack luster & directionless through the day. However, towards the end, as Anna's location was disclosed, the markets took cues from it and recovered some losses.
Banking stocks lost as all the customers went on protest & fast and no customers came to the bank. HDFC lost 2% while ICICI lost about 0.5%
On the other hand, as people were sitting on fast, Jaiprakash & DLF were not able to sell anything & lost more than 6%. Markets seemed to have lost interest as all people were interested in Anna's future and nobody bothered to initiate fresh buys/sells
Jindal Steel, ONGC & Cipla lost on news that Anna was denied permission and their plans to sell steel, oil & medicines to the fasting people like a Single Window Service has been knocked off
TCS n INFY gained as employees took leave n went to support Anna Hazare... It was a major Cost Saving activity of the year for the IT bellethers... However, Wipro lost as employees were asked to stay back & perhaps, they did not work
ITC gained on rumors that people might smoke more during the fast out of hunger, frustration n absence of food
Bharti Airtel went up on speculation that there might be more calls made during the fast... Every 1/2 an hour, the wife will call husband n ask "Aji, khane khaaye kya?" n husband will say, "Arey Bhaagwan, I'm on fast"
Overall, the Anna Hazare issue threw everything out of gear. Even Twitter & FaceBook went out of gear which helped the US & other global markets rise by 1-2% amid analyst expectation that there will be higher ad revenues due to higher page views across the world. On the commodities front, all prices were moving haphazard and no one in Mumbai Bazaar was bothered about them. The vegetables in Bhindi Bazaar were on a dip due to rain. Further, as everyone was on fast & no one wanted to buy them, they were sold for free
While everyone is bothered about Anna, why the hell are we bothering about the markets? With this, the daily drama of life has come to an end of yet another eventful day. We'll meet tomorrow to discuss the same issues yet again with no hope for any conclusion