ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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The Market and the Economy

The Market and the Economy HARDLY two months ago the stock market presented a picture of utter despondency and the government found it necessary to depute a senior official of the Finance Ministry to inquire into the 'slump' in equity prices. What came of that inquiry is not known but the downward drift in prices was quickly halted and the market took a right-about-turn in the last week of October. It was the sudden emergence of massive institutional support for a large number of scrips on the cash as well as cleared list which brought about the dramatic change in the trad' ing sentiment. It would not perhaps be unreasonable to presume that behind the apparently spontaneous institutional support lay the government's unseen hand.

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