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I was reading about the suicide bombing that killed 5 people in the UN World Food Programme (WFP) in Islamabad when I came across this interesting thing :
“There was slight profit-taking immediately after the news broke but the market quickly recovered,” said Sajid Bhanji, a dealer at brokers Arif Habib Ltd.
You’d be surprised to know that similar trends are observed after every natural calamity in India too. The tsunami, the floods, the earthquakes, each of these lead to a spike in the stock market. For more details, check out any video of P. Sainath – he has made half a living out of such statistics. If I recall correctly, it is related to the amount of foreign exchange that might come in in relief efforts and charity. I am really bad at economics, even worse at stocks and the stock market, so I can’t wax eloquent. But ask any economist, and you’ll get the reason.
I am not one to judge these incidents as good or bad, moral or otherwise. But when you have a stock market governed by greed (which again I won’t judge as good or bad), I am not surprised by these occurrences.