How much are the world markets dependent on US Economy?

Lets take the example of the Asian markets and how they are trading since the start of this year 2008. Jan 2008 has not been a very good start with most of the markets loosing a lot of ground. The markets as of today have dropped close to 20% lesser than what they were in Dec 2007.

All this was because the fear of US heading towards a recession. Uncle Sam heading to recession has so much of impacts all over the world. Its a cyclic reaction. Uncle Sam heads to a recession; the companies start spending less and the americans start spending less. The usual routine is the whole world saves for the Americans to spend.

Only when the US companies spend much on their services, Indian IT grows. Only when the Americans spend; the Chinese market grows coz export grows. Globalization in the recent past has led to a lot of cyclic reactions. The markets in the US catch cold, the Asian Markets cough.

Indian and Chinese markets called as the Emerging markets are supposed to be very good for investement. Now, once Globalization has started, a person sitting in India/London/NY can trade in the emerging markets in the morning (of IST), and then shift gears in the European market and then; have his dinner (investment) in the US market. Now you see how one market can affect/effect the other market.

On 22nd Jan, the Indian benchmark hit the circuit in the first few mins of the trading session, only to recover from that later. However in the pursuit, it had almost hit another circuit before the blue chip stocks pulled it up. Later on, by close it did recover. There were many reasons why the sensex fell, FIIs liquidifying so much to the extent because they had to fund their mother companies. Large caps saw such a down fall that a retail investor could buy them that day and sit on them for a long term.

The US which was on a holiday for Martin Luther King day, was astonished to see this happen on Monday. The fed held a phone conference only to decide to slam the interest rates by 75 points; which was announced after the Asian markets closed at around 0700 hrs EST on Tuesday. NASDAQ reacted a little positive, though not into the greeen area, the announcement for sure made sure that the DOW did not fall further.

The next day, the Asian markets reacted strongly opening quite high and trade steadily throughout the day. The european markets were still open and did gain some momentum once the fed cut was announced.

How much ever the world is globalized or growing, US remains in the centre dictating terms in the market. We will have to wait and see if this ever changes.

Sensex beaks the Circuit Filter - Trade halts for an hour

The exchange in October 2007 had fixed circuit filters for the Sensex. If the index drops 10% before 1 pm then trading to be halted for one hour. If 10% drop is between 1-2:30 pm then trading to be halted for half an hour. If 10% drop after 2:30 pm then no halt in trading.

If in case index drops by 15% before 1 pm then trading to be halted for 2 hours. If 15% drop between 1-2 pm then trading to be halted for one hour. If 15% drop after 2 pm then trading to be halted for rest of the day.

In the case of 20% drop in the index then trading to be halted for the rest of the day.

Today, the circuit was broken in the 1st 2 mins of the trade! The trade was halted for an hour till and resumed at 10:55 AM (22nd January 2008). The benchmark kept flickering till the Finance Minister gave an assurance of Liquidity in the market and in one of the interviews expressed his confidence over RBI and other banks that there was good amount of liquidity to be offered for brokers and investors.

Good god and then the markets recovered considerably and avoided another circuit break which would thus halt the trade for the whole day!

I heard here and there rumors among my colleague and frnds, that they have lost so much and so much in the trading today. One of my frnds lost considerable amount in margins/derivatives and was running around in havoc trying to arrange money for tomorrow's margins.

But by the end of the day; the market stabilized considerably taking into account the magnitude of fall to end close to 700 points down to yesterday's close.

The Sensex needed this correction as trading at such a high figure of 21k+ was certainly not the economy of India. India by par stands somewhere around what the Sensex is as of today. I would say that 16k to 17k is the economy of India as of now. No matter the amount of corporate strength or corporate taxes is being pulled in, mid 16k is a good number for India.

The causes for this correction can be attributed to many as I have been reading by some famous columnists.

It is partially because of the US fear of recession. Fed is meeting early next week and there was a hope of another 75 points cut on the interest rate. But, by the time I wrote this article, Fed announced a three-fourth points cut as expected!! 75 points interest rate cut. Now the Interest rate stands at 3.5%

We will have to see how the US markets react to this. If there is any up in the market, you may well see a huge plunge towards the positive side morrow in the Indian Market. Sleep late and tight; wake up at 9:50 AM IST and see the Indian market.

The market also seemed to liquidify the equities to cater to the biggest IPO of Reliance. It is also told that this can be a major reason for investors to have pulled back money! Who would not wanna do it? You buy the IPO in the 410-450 range and then it shoots upto 2k in a very short span (a normal public belief on Reliance). More to it; Ambani declaring that he wants the lay man to be a part of his investment; this calls for more liquidity in the market with people wanting to pull out their money from other stocks that they feel is not fetching them high profits that Reliance could do in a very short time.

Given the fact that there is one more BIG IPO coming through from BSNL and the SBI Rights issue following, it would be interesting to see how the markets would react to them. Maybe they are not so high priced or high valued as Reliance; but sure they are supposed to be good.

A seasoned long term investor would take this correction in his stride. This is not the time to sell of his equities in haste. This is the time to buy any and every stock if you have any spare money as this price. Some big stocks will fetch you pretty good returns in very short time.

Or, if you are one among them who says "I have invested enuf". Mind you; do not sell in haste. Keep it and you will earn your returns.

The volatility of the Market seen today was remarkable given the fact that the US markets are scheduled to open less and the amount of plunges the Australian, Asian and Europe markets saw today. Not a single market finished its daily business in Green. All were in RED.

If you have been waiting to get into the market; This is the time. Get in with some good shares and remain long for some awesome returns. Even if you are a short term investor; it will fetch you handsome returns.

But one thing was evident with today's market. Do not pack your bags in the 1st hour. Remain late and you will be happy. As I was telling my frnds:

Lesson to be learnt of today’s trading session!!

"Do not jump from the terrace of the BSE on Dallal Street as soon as u see a intra-day fall of BSE. Wait till the end of the day. U might have to just jump from the window in the 4th floor".

Aussies, do not play india again if you have the 17 tests win in mind

Aussies, do not play India again if you have the 17 tests win in mind.

It will remain as history that India stopped the Aussies twice when they were supposed to win their 17th Test match. Once in India and once on their own soil.

All the 4 days of the match, Aussies never seemed to be have an upper hand except for the last hour of play. If Aussies showed the same courage and determination that they showed in the last one hour of play the whole of 4 days, they would have had their 17th Test win in their pocket.

Right from the time that they let the Indian batsmen score on the 1st day to the last min when their batsmen did not do their job for them; Aussies never played like they had won all the 16 tests they had played earlier to this.

Coming to Perth from Sydney which was one of the most unfair test match in the history of cricket, Indian cricket team was all pumped up. Wonder who actually helped the team to put in all the agony and pain on the field instead of just showing it off the field. Whoever it was; Hats off to him/her/them.

It was a team performance. The score card was distributed. No big hundred; 93 from Dravid being the highest score of a batsman in the match; no 5 wickets next to any bowler. Everybody chipped in. Be it runs or wickets.

Last but not the least. Coming to Perth from Sydney; it was good to see no sledging from both the teams; except for some stares that's always healthy. India showed character letting down the complaint on Hogg which was setting an example of modesty, sportsmanship and helding up the tradition of leave the things on the field on the field and move on.

India have everything to play for going to Adelide. The last test match that they played there; India wrapped up Steve Waugh led Australian team pretty comfortably. As in Kumble's words "It would be good if we can square the series".

If India win at Adelide; it will not be a mistake to tell that the Indians won the Gavaskar-Border trophy of 2007-08 2 (India) - 1 (Australia) (Keeping in mind that the Sydney test was one sided against the fairness of the game).

Overconfident Aussies at Perth

Overconfidence is bad for anyone. Be it the best person in that field/sector. It is better to get into any assignment with little expectations and an open mind to give it your best shot.

As of now, when I write this blog, the Aussies are all out for 212 in reply to India's 330 in the 1st inings. With still an hour's play remaining for the day; India would want to play safe and see off the last hour making sure that they do not loose any wicket.

The build up to this Test Match at Perth has been absolutely Terrific. The whole lot of drama after the Sydney Test Match, the comments from one team to/on the other. The ICC, CA, BCCI getting involved and pushing many things and claiming it was in the interest of the game and to be played in the best of the spirit; all of it and now this test match which once was not sure if the Indian team will continue the series.

The Australian Cricketers Ponting, Gilchrist, Clarke all talking about the 17th win; how helpful it will be for the Aussie bowlers. It made many wonder if India will ever stand a chance in this test. But the game as it stands now, India surely have the upper hand.

The pitch was talked about so much. I read one of the articles mentioning "Only fumes are not coming out of the pitch"; told to be so fierce and RED HOT Wicket. The wicket was laid afresh. It promised some true bounce and some awesome pace. It surely is living up to the expectations.

But maybe as it stands now, Indians made use of the conditions in favor of them; as compared to the Aussies. If it was not for the drop catch by Sachin; Symonds being dismissed on score of3; Aussies would/may have been stuggling to get to the current score.

Again a couple of decisions against India pushed them to the backseat in the 1st Innings. Sachin and Dhoni adjudged Leg Before by Rauf without he able to gauge the bounce in the pitch. Well!! Hope that it doesn repeat in the 2nd Innings.

Off to the scoreboard to see the match again!! Keeping my fingers crossed!!

Presidency School 1998 batch Re-Union

At last!! D-Day!! 13th January 2008. Nandhana Grand.

We were all scheduled to meet at 12 or so at Kormangala Nandhana Grand Hotel. As usual; Sunday, I feel more sleepy!! But managed to get up by 9 AM and got ready by 10 AM. Called Ashwini Kamat again to check if she will be coming (she replied negatively); called some more of my mates; confirmed their attendance and left home by 11 AM and reached the hotel as I had planned by 11:50 AM. Went in, confirmed the booking for 25 people and the waiting game started!

1st to come in was Parikshith by 12:10. Then came the gang of Raghavendra, Mahesh alias Chengi and Ganesh alias Ganjaby 12:25. Then, it was getting time for the buffet to start and I was worried if even 20 would make it! Went in; told the manager that the table for 20 be reserved and rest taken if they needed.

Then; Bharath alias Bhatti, Deepak, TP Sandeep alias Tippe came and it was sigh of relief for me. atleast we are a handful. Pavithra alias Pavi had made her way near the police station; picked her up and meanwhile Nigar too made it.

Narasimhan alias narsi was supposed be there by now; but was delayed. In the act of finding him near the police station, I lost my mobile (it fell off my jacket coz i was riding my bike so fast). Anyways; I was thinking of buying a new one, but cursed god to have made it happen on my way back home as I knew people would be calling on my cell for landmark/time to get to the hotel.

Arjun came in and so did Narsi. We decided we were enuf to get in and start the lunch and meanwhile people would join us. Ravi and Dayanand alias Daya joined in a few mins. We ordered a drink each.. Cocktails, mocktails, lime sodas. Cheered for the 1998 batch and started our lunch. Meanwhile Pranav and Bhavya too came in.

The 20 seater table almost looked occupied with one or two seats vacant at the end of the table. Then started the whole episodes of remembering the school days. The teachers, class rooms, nick names, school pairings, sports day, teasin each other, knowing wat each other is doing now for living, and otherwise too.

We never knew the time pass by. Pulling each other's legs; teasing each with other; shouting in the hotel. The lunch hall was quite small and everyone there knew were were meeting after a long time; so they understood our exitement. It was after full 1 hour that we decided to take the main course. The food was quite good.

Though here and there we kept calling people who did not make it, fighting with them for not making it, scolding them; time jus flew by. Deepak teasing Bhavya and Nigar was the highlight.

Meanwhile, Pavi did not like the lunch and decided to go home. She is carrying ane hence is advised not to eat the junk food. Met Pavi's husband and then Pavi took leave of us and then; the whole drama of photography was started by Deepak. So many pics in jus 3 hrs.

Kept changing seats every now and then. Everyone made sure that they sat and had a word with one another. It was after 10 yrs literally that some people were seeing each other. So much of excitement and chaos in the hall.

People started to disperse slowly by 3:30 PM. Even though we were starting to become a small group; we were the loudest. I knew that we were very loud only when a foriegn couple sitting besides us started to talk quite loudly (by their standards); so asked our boys and girls to reduce the volume and talk little softly.

The best part was!! Deepak, Tippe and Bhatti had decided to go to a movie and booked the tickets for the show at 4 PM at PVR. It was only at 4:15 that they realised that they had booked the tickets. They decided otherwise and Deepak ended up tearing the ticktes into pieces.

Then Dhimanth alias Dhimmi joined us. Infact inspite of repeated calls Dhimmi managed to get to the hotel only by 4:25 or so.

Finally by 5:10, we were all done and it was also time for the hotel crew to wind up and get ready for the evening dinner. We came out of the hotel and then had fun giving birthday bumps to Dhimmi.

Meanwhile, I tried calling on my mobile. A guy promptly picked up the call! I was surprised!! I checked with him and he said he found it on the street near Kormangala Police station. He told he can meet me the next morning and give me the phone as he is in a hurry. I was relieved as I would now be able to retrieve the contacts on my phone. Let alone the phone; I have no probs if he wants to keep it, provided he helps me copying my contacts into the SIM.

We all left from the hotel by 5:40. After 10 loooooong years, it feels very happy to meet all my pals with whom I spent those unforgettable 12 years of my life. Golden were those days when we played cricket in Kamalamma gundi. Played sports for our HOUSE TEAMS to win (I was in the Red house).

Though only 17 made it; it was awesome!! I hope the next time we will be more in number and have even a more wonderful time together.

For all those who made it: Thanks for making it and Thanks for the wonderful time we had together.

For all those who could not: Do not worry! This was the 1st time and we will keep meeting often. Hopefully catch you next time!! ;)

Love you all guys!! Need not mention; Miss you too!!

Link to the Pics: http://picasaweb.google.com/srikanth.bhaskar/SchoolReunion

Getting ready for our school re-union

We are the mates of Presidency School, Nandini Layout. Graduated out of school in the 1998 batch.

Its been 10 looooooooong years since we all met. We graduated out of school in 1998 (March). Infact we all had not even met during our results as we all were busy planning for our next level.

I remember the last party we had was at Amit's house after our Valedictory day (officially by the school management) and the Farewell given by our Juniors. We had a nice time in all the 3 parties I remember!

People have grown up. Working!! Each one in a different field!! Some in medicine.. some into teaching(professionls).. some into accounting.. major chunk into the IT & ITES..

I'm sure most of us are in touch with our smaller groups that we were dear to and had small treats celebrating the small achievements time to time. Small group at weddings!! (3-4 that have happenned till now). But a big event of almost all the mates getting together; only this after 10 years!

Feels so happy and so much of excitement 2 days before the event! What makes me feel more pumped up; is being the initiator of this and a sense of satisfaction to have organised this and been able to contact them; the work going into it; the phone calls made!! Heard so many of their voices after 10 years literally!! I am all guns believe me!!

Though I started this to jus to reach out all and to get their contacts coz I have a big day coming up in my life in a quarter from now! The time to declare my sweet heart as my wife; stepping into the next phase of life, I always wanted to invite all my school mates. I missed doing it on my house warming ceremony. Could invite only a handful.

A little bad that a few opted out at the last moment coz of some reason; but still hoping they could make it to the event with all the difficulties they have. Simply because this is happenning after 10 long years mate!!

Awrite!! Still at office finishing of last min work for the week!! Will blog the big moments of the event on Sunday! Get ready to read with me the beautiful moments of the reunion!! Its happening at Nandhana Grand, Kormangla, Bangalore at 12 PM!! If you are one of them scheduled to come; please do not be late!! Be on time!! And lets have a ball!!

"Only one team played fair today" - Anil Kumble

Anil Kumble is known as a gentleman who respects his game as good as a priest his temple/shrine.

When Kumble is made such a comment at the after match press conference, it shows the pain he has inside in him after a cheating defeat.

Ricky Ponting and his ****ing 15 men in the Australian cricket team have played the worst/unfair match in the history of the game. The tag that the Australian cricket team is playing is for "winning" as I mentioned in my previous blog. Clarke, Symonds are such a disgrace to the game of cricket. Infact, the whole team is such a disgrace to the game of cricket. The Sydney test will go down in the books as the "most unfair match" in the history of cricket.

This agony is not because India lost. The tail had to make sure they survived the last few overs of the match. But the decisions and the way the Australian team played cricket was shocking and a miserable dream to the Indian cricketers.

The umpires Steve Bucknor and Benson played a very important role in tagging the match as the most unfair match in the history of cricket.

Umpire Benson relies on the ****ing honesty of Ponting to declare Ganguly out to a catch that was not taken at all. Benson forgot that he has a walkie talkie that he can use to contact the umpire upstairs for a replay. He only wanted to check with ****ing Ponting to declare the catch taken. Who the hell certified these guys as umpires? How the hell do they umpire test matches without common sense?

And Mr Bucknor, I think u better retire from umpiring cricket matches. If you cannot stand the sun in the middle and the pressure that the ****ing Australian team puts on you, please put down ur papers and retire from umpiring. If you cannot distinguish the sound between the cricket ball hitting the Cloth(Pad) and wood(Bat), I suggest u to go home to Jamiaca and have a holiday.

U Mr Ponting, I am sure good old cricters must be a very sad man tday. They had built the game of cricket as such an honest and reliable sport. I must appreciate your efforts in turning your team into "sportsman spirit less" and "dishonest" cricket team in the world. Well done!! How the hell could you have a good sleep after havaing cherished such an unfair victory? Go to hell!!

Read as the famour writer of the game (an Australian) writes about the testmatch.. http://www.cricketndtv.com/cricket/ndtvcricket/cricketstory.aspx?id=SPOEN20080037976

Ugly Umpiring / Dishonest Aussies

Cricket is known as a gentlemen's game. Maybe this is past now.

The latest Test Series of India tour of Austalia, the quality of umpiring has been very shitty. The Aussies are known to be very sportive and play cricket very professionally, but this series has seen them play their cricket very dishonestly.

There has been a lot of appeals that have been turned down by unpires. It is fearful to see umpires like Steve Bucknor and Benson make such mistakes with that huge amount of experience behind their back.

The caught behinds that surely the batsmen knew that they were out, have been turned down. I got wild when I saw that the batsmen did not bother to walk out even when the umpire turned the appeal down. Being professional sportsman and playing the game with the right spirit, the Aussies MUST HAVE walked out when they knew that they were out! It just shows that they play to WIN.. not to play fair and not for the game. Its all about Winning that they bother about.

Had these things happened in India when Australia had toured, it would have been a night mare with the Australian media and the world media portraiting India and Indians as a 3rd degree country.

I in this blog, condemn the act of the Aussies for not being professional. They are not fit to play in the name of the spirit of the game. I also wanna take this to mention to the umpires that, any critical appeal, could always be reffered upstairs, having in mind that they cannot see the play at split second and would need assistance when it comes to a faint nick/edge or stumping. There is no harm or insult in referring such decisions upstairs. It would indeed make the 3rd umpire do his duty for his match fee.

The whole cricketing world knows that Aussies are the WORST SLEDGERS in the game. It is indeed surprising to see an Aussie complain against Indian (Bajji) on racial sledge. There is no rule in the books that only Aussies are permitted to sledge and all the other teams need to listen to then without speaking a word against them. One needs to teach them a lesson "their way". Way to go BAJJI!!