SEBI asks investors to keep away from astrology tips - Economic Times

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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 investors against falling prey to astrological predictions.

"Do not be guided by astrological predictions on share prices and market movements," Securities and Exchange Board of India 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 websites, detailing their past record and future predictions.

Many of these astrologers and the websites 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-networth clients.

When contacted, famous stock market astrologist Satish Sharma, who also runs a website AstroStockTips.in, told that he was not aware of SEBI circular, but asserted that the people invest their money in the stock market for future returns and "only astrology can tell about the future."

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