ASI : 7008.79 124.73
2011-Jul-07 10:06:36 AM
Today gainers are,
LOFC.N0000`N 278% 18.90
ONAL.N0000`N 9.97% 156.60
people are running behind illiquid overvalued shares then ASI goes up. thereafter, correction happens to liquid and fundamental shares but not for those illiquid shares since they are in control of some big fellows who got billions to control the market.
if this happen continuously we could see ASI around 7000 and MPI around 6000. if gap between these indexes are diverging continuously, it is not a healthy signal at all. we could see lot of outflow. also number of illiquid counters may increase because market is flooded with IPOs with millions of shares, but people have limited cash and most of them are blocked in fundamentals with loss.
what do you think?