Rakesh Jhunjhunwala - Markets spring surprises

Stock market experts advice high caution for investors as the bull on the Dalal Street continues its upward move. "Market developments in the near future may take investors by surprise," said big-bull Rakesh Jhunjhunwala, who was speaking at the 38th annual general meeting of the Ando-American Chambers of Commerce (ICC).

Junjunwala said the markets may see some consolidation in the near future. "As there is extreme exicitement in the markets, things will move at an increadible speed. Both the gains as well as the fall would be fast," he said. Recently, the BSE 30-share index, Sensex, registered its fastest 1,000-point gain, which came in a mere six trading sessions.

On the other hand, Vallabh Bhansali, chairman, Enam Securities advised retail investors to be extremely selective in their stock pickings and only invest in stocks which they felt were sound fundamentally.