The rally continues, spurred by an RBI credit policy which did not change interest rates but hiked CRR by 25 basis points to suck out some more liquidity and by some encouraging corporate results, such as those of DLF which made a fourth quarter profit of a whopping Rs 2176 crores!

Two things will prevent the bull from snorting too loudly this calendar year. One is democracy, which entails elections, which would, in all likelihood, be announced this year. The other is the set of problems created by excessive greed, which is the offshoot of shareholder value creation, the bedrock of shareholder capitalism.