It's natural when a market is recovering to have a speculative run. But today all the shares moved, except for JKH and few others. JKH is always trading in a premium price simply because foreigners love to have it as liquidity is high. But when foreigners are shedding, JKH is under pressure.
In the last few months those who invested only in so called GOOD shares had more bleeding than the people who had a balanced portfolio. Then they say we invest in long term, without telling that they invested without studying. Sometimes we are blindly investing in so-called GOOD shares based on past results and posh board of directors. But when people realized the earnings are not justifiable with the share price, and then the down trend starts as what happened in the last few months. To my observation our market collapsed due to that high value GOOD shares.
i.e. : Aitken Spence Hotel Holdings (AHUN). It was trading at Rs.160/- after the split. When results were released people realized it’s not worth and came down to Rs.58/- giving a heavy loss. How much earnings they have to show and how many years will it take to go back to Rs.160/-. Last qtr. EPS is Rs.0/30 (30cts) For me without manipulation it will take at least three years at a 200% growth rate. Only hope is averaging.
ALL THE SHARES IN ANY MARKET ARE MANIPULATED AT SOME POINT OF TIME. WHAT MATTERS IS RIGHT TIME AND RIGHT PRICE.