Signs of Moderation
Retail ownership of top 500 stocks of BSE saw a sequential decline in December quarter. Is their interest waning?
Illustration by Raj Verma
Stock markets have had a stellar run since their lockdown lows, with the BSE Sensex rising from 25,638 at the peak of the crisis in 2020 to 52,516 in mid-February 2021. Since then, it has been a slow grind, with the index hovering around the 50,000 mark. One of the clearest signs of the earlier euphoria wearing off is the dip in retail ownership of BSE 500 stocks. Consider this. There has been a decline in retail ownership - those holding up to Rs 2 lakh nominal capital - in three out of five stocks in BSE 500 in December quarter. In fact, overall retail ownership of BSE 500 stocks fell from 6.9 per cent in September quarter to 6.8 per cent in December quarter. Individual investors had increased stake in almost two-third (338) companies in July-September. This fell to 207, or 41 per cent, over the next three months.
Signs of Moderation- Business News
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Stock markets likely to witness volatile trend in holiday-shortened week ahead
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In northeastern China, a hotel built around a central polar bear enclosure - designed for the non-stop viewing pleasure of guests - has been condemned by conservationists. Harbin Polar Land offers hotel bedrooms with a view across the polar bears’ pen, with the experience being marketed as having the bears as neighbours for 24 hours a day .
Animal rights organisations reacted with outrage, urging customers to stay away from establishments profiting from animals misery . The enclosure features harsh warm lights, and a space consisting of fake rocks, icicles and a white painted floor. Polar bears belong in the Arctic, not in zoos or glass boxes in aquariums – and certainly not in hotels, said PETA Asia s Vice President Jason Baker.
NEW DELHI: A rush of IPOs from businesses good and not so good, and aggressive pricing of such issues are considered important signs of an ageing bull market.
Dalal Street has currently been seeing strong subscriptions to all kinds of IPOs, many of which have been deemed aggressively priced. Worse, most of the IPOs with lofty valuations are also commanding strong premia in debut trade.
This, some market watchers say, suggests a bubble is building up in the IPO mart. “It’s a no-brainer! Investors are chasing listing gains and are unfazed by valuations. That calls for caution,” say analysts.