We should take cautious approach to the mood of sensex. Despite overflowing of foreign exchange reserves and boom, new job opportunities are missing. Despite higher profits, new ventures are missing. Till we go for creating new jobs, all seen are just imagination of few one to project rosy pictures with full of thrones. Sensex is depicting pictures of just few companies. Regional stock exchanges are vanishing rapidly. Big sharks corner stock exchange business. Small investor is still shy of investing due to constant fear in their mind of previous financial mingling and lack of regulations. The Government has failed to restore confidence of small investor. Till such time, boom in sensex is totally immaterial.
(This letter published in Times of India on October 8, 2003)