New Dimension to Old Cult

New Dimension to Old Cult Nishtar THE stock market continues to scale new peaks and there is no knowing where the new spirit of adventure will carry it. Caution has been thrown to the winds and the market is experiencing a fantastic boom. Rarely, if ever at all, have equity prices been known to rise the way they have been rising. Within a few weeks, many shares have risen by more than their full year's normal range. And there have been quite a few instances where prices have gone up by 30 to 50 per cent in a matter of days. Such steep rises are usually associated with "cornering" and "take-over" bids. But there have been no such deals recently. It is quite some time now since the market shifted its emphasis from yield consideration to growth prospects (capital appreciation). But more recently, the cult of equity has acquired an altogether new dimension