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Why the Private Investor Must be Wooed

October 1, 1966 Rs 10 to Rs 285 per quintal, while coconut oil was down by one point Bearish Outlook Against this background, the short term outlook for oilseeds appears to be bearish. New crop arrivals of groundnut in all the trading centres in the country will gather momentum during the next few weeks as the season progresses. Reports from Madras indicate that the average daily arrivals of the new groundnut crop were already around 50-60 tons. Besides, the recent imports of soyabean oil, and the expected imports of copra and palm oil, should also have a salutary effect on the market.

Why the Private Investor Must be Wooed

October 1, 1966 Rs 10 to Rs 285 per quintal, while coconut oil was down by one point Bearish Outlook Against this background, the short term outlook for oilseeds appears to be bearish. New crop arrivals of groundnut in all the trading centres in the country will gather momentum during the next few weeks as the season progresses. Reports from Madras indicate that the average daily arrivals of the new groundnut crop were already around 50-60 tons. Besides, the recent imports of soyabean oil, and the expected imports of copra and palm oil, should also have a salutary effect on the market.

Slight Recovery

crores) and a consequent fall in banks' investments in Government securities, including Treasury BiUs (

Revival Doubtful

The market has not been amused by the emphasis on property and wealth taxes in the Draft Outline of the Fourth Plan. Fresh reports of Pakistani troop movements have also given a jolt. There was some relief when the Finance Minister declared that there was a limit to taxes on higher income brackets. Loading equities, nevertheless, had new friends.

Fresh Issues Under Way

Operators were waiting, with some trepidation, for the Draft Outline of the Fourth Plan. Sentiment in the next few days will be affected by the interpretations and implications of the Draft Outline. No surprises were expected but stock markets cannot help taking a bearish view regardless of whether the resource gap, which is sizeable, is sought to be covered through deficit financing or additional taxation. Sentiment would be subdued if industry keeps on complaining about financial stringency.

Equities Weak, Gilts Firm

Political uncertainties continue to depress the stock market.There was little trading on the floor, prices moved downwards.In their pessimistic mood, operators overlooked the export incentive measures announced earlier, as also the announcement of the IDA credit of $ 150 million, which is part of the $ 900 million promised by the Consortium.
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