One Man Show

Another day of extreme volatility. Despite the reasonable bounce back in the Asian indices, the Sensex could not hold on to its green status. The SET (Thai index) made a good recovery by surging 11.16%, after yesterday's historical tumble of 14.8%.

The Sensex ended 41.80 points (0.31%) down, at 13340.

My portfolio managed to remain in the green zone, thanks to the one man show by Tech Mahindra. The scrip surged 7.68% with huge volumes. It hit its all time high of 1285, and finally settled at 1243. Some more good news arrived after the markets closed. Tech Mahindra has won a 1 Billion dollar contract from British Telecom to support the latter's global customers in the managed services space, for a period of 5 years. It would be interesting to see how the stock moves tomorrow.

My portfolio ended, 0.39% up.

Sobha Developers had a good listing today, at least an excellent start. The scrip listed at a premium of 75%, but shed its gains throughout the day and finally closed 44.79% up. It may be a good buy from the secondary market. Need to watch him closely.