2007年VOA标准英语-India's Booming Markets Attract Young New Inves

By Anjana Pasricha
New Delhi
22 July 2007

India's booming stock markets are attracting many new investors² in the country as they continue to reach new highs. But many first-time investors have yet to learn that what goes up may also go down. From New Delhi, Anjana Pasricha reports.  

Monica Gupta, 26, began working three years ago in a consultancy company. She puts more than half her savings³ in stocks and mutual⁴ funds.

"I have got great returns on my investments. It's so much better than putting money in a bank,"  Gupta said.

Like Gupta, many young professionals are investing heavily in the stock market. 

vendors5 sell newspaper which says 'Sensex Hits 15000' near a train station in Mumbai, 6 July 2007" hspace="2" src="/upimg/allimg/070725/0823310.jpg" width="210" vspace="2" border="0" />

Indian newspaper vendors sell newspaper which says 'Sensex Hits 15000' near a train station in Mumbai, 6 July 2007

Prithvi Haldea heads New Delhi's Prime Database, which tracks trends in the markets. He says many first-time investors have been encouraged by countless⁶ stories of people who have doubled or tripled their investments, as the Mumbai stock exchange's Sensex index soared from 4,000 points in 2003 to more than 15,000 points this month. 

"The young generation has tasted blood in the sense that they have huge earnings⁷, and whatever investment they have made, they have been able to in a large number of cases, turn them into profits," Haldea said. "The numbers that are growing in terms of investor¹ base, basically it is coming from this young generation."

Young professionals are not the only ones attracted by the buoyant stock markets. Many others in the expanding middle class have diverted savings to stocks and mutual funds as confidence grows in the future of corporate⁸ India.

As a result, household savings invested in equities⁹ and mutual funds have risen to about five per cent compared to just one per cent four years ago.

Market analysts¹⁰ however point out that this is still low compared to developed economies. They say many people are still hesitant to tie their fortunes to the stock markets as debate rages about the sustainability of their massive rise in recent years.

Prithvi Haldea is among those who believe that share prices have risen too high, too fast. He says the economy is on a roll and many companies are doing well but advises caution. 

"Our market is slightly skewed in the sense that we lack both the width as well as the depth," Haldea said. "The number of companies that are listed of good quality, that number is still very small, and the floating stock that is available is very, very small, so any buying interest from large buyers basically shoots up the prices dramatically."

Other market watchers simply point to the statistics - Indian stocks offered an average annual return of 38 per cent in the last five years - and say the risk is worth it.

1 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

2 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

3 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

4 mutual   

adj.相互的，彼此的；共同的，共有的

参考例句：

• We must pull together for mutual interest.我们必须为相互的利益而通力合作。
• Mutual interests tied us together.相互的利害关系把我们联系在一起。

5 vendors   

n.摊贩( vendor的名词复数 )；小贩；（房屋等的）卖主；卖方

参考例句：

• The vendors were gazundered at the last minute. 卖主在最后一刻被要求降低房价。
• At the same time, interface standards also benefIt'software vendors. 同时，界面标准也有利于软件开发商。 来自About Face 3交互设计精髓

6 countless   

adj.无数的，多得不计其数的

参考例句：

• In the war countless innocent people lost their lives.在这场战争中无数无辜的人丧失了性命。
• I've told you countless times.我已经告诉你无数遍了。

7 earnings   

n.工资收人；利润，利益，所得

参考例句：

• That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
• Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。

8 corporate   

adj.共同的，全体的；公司的，企业的

参考例句：

• This is our corporate responsibility.这是我们共同的责任。
• His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。

9 equities   

普通股，股票

参考例句：

• These are invested mainly in the OECD bonds and equities. 这些资产主要投资于经济合作及发展组织的债券与股票市场。
• They are also advantage of the global rebound in equities. 它们还在利用全球股市反弹的机会。

10 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。