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

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STOCK MARKETS-Pressure for More Concessions

CONFIDENCE, it is often said, is a tender plant slow to revive once it withers. But speculative markets have a tremendous recuperative power. Indeed, the stock market scene has undergone a profound change recently. The market has not only cast off its slough of despondency but it has also staged a spectacular comeback, recovering in a matter of days nearly 70 per cent of the ground lost in the preceding decline. Since uncertainties still abound and the political atmosphere remains charged with all kinds of tensions, it would seem rash to jump to any firm conclusions but it should cause little surprise if the renewed upsurge in equity prices were to mark the beginning of a new major bull phase. This optimistic assessment is based mainly on the likely flow of investible funds into the equity market as a result of the organised efforts being made to mobilise household savings and the relative shortage of good growth shares.

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