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Markets
Keep away from astrology tips: SEBI
NEW DELHI/MUMBAI: Investing in stocks is often described as a game of luck and stars, but market regulator SEBI does not seem to agree and has cautioned the investors against falling prey to astrological predictions.
Do not be guided by astrological predictions on share prices and market movements, the Securities and Exchange Board of India (SEBI) has said in its latest caution message to investors.
Those engaged in the business of stock market astrology, however, do not buy the cautionary words contained in the SEBI circular and believe it would be business as usual for them.
Investors come to us because our predictions have proven true. Our clients would not come back, if our predictions prove wrong, said an eminent astrologist who claims about many of his past predictions having proven true.
There are hundreds of astrologists advising investors with their stock market predictions in India for a fee and about a dozen of them also have full-fledged Web sites, detailing their past record and future predictions.
Many of these astrologers and the Web sites charge an average of about Rs one lakh a year for their generalised predictions, but even the monthly fees run into such levels in case of customised predictions and for high net-worth clients.
When contacted, famous stock market astrologist, Mr Satish Sharma, who also runs a Web site AstroStockTips.in, said he was not aware of the SEBI circular, but asserted that the people invest their money in the stock market for future returns and only as trology can tell about the future. - PTI
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