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

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At Stock Market s Mercy

THE precipitate fall in equity prices on the Indian stock exchanges in the past four months or so should not be a surprise to a keen observer of the stock market scene. The post- scam buoyancy in share prices up to September 1994 and the subsequent retreat have been dictated by the actions of foreign institutional investors (FIIs). Even the steps taken by the authorities in recent months in introducing various regulations with a view to enforcing a degree of discipline on the markets have essentially been guided by the adverse reactions of the FIIs to the various questionable practices and structural problems of the Indian stock market system.

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