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

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Retail Investors: Wishful Thinking

Wishful Thinking Stock market indices continue to rule at record levels in 2005 even after markets tanked dramatically and then recovered after the general elections in May 2004. The BSE Sensex, for instance, reached an all-time high of over 6400 points on December 15, 2004, crossed the 6700 mark on February 14 and then breached 6900 on March 8, with only minor blips on the way. Signs of a correction are setting in but both the NSE Nifty, which has followed a similar pattern, and the Sensex are trading above 2000 and 6500 points respectively. However, even as the bull run continues almost unabated, concerns about the extent of retail participation, the dominance of FIIs in the market and the quality of inflows are being put on the backburner. This curious reluctance to interrupt the flow of things, even when they warrant attention, or to offer anything that might be interpreted as a

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