Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Sify Technologies (NAS: SIFY) rose 10% in early trading only to close up a little more than 3%. The Indian Internet and e-commerce specialist had endured a wave of selling earlier this month. Now, it seems, retail investors believe the stock is oversold.
So what: I say "retail investors" because Sify rose on lower than average volume. So did subcontinental peer Rediff.com (NAS: REDF) . Big Money investors tend to drive big volume moves.
Now what: So why did the stock pop? Both Infosys (NAS: INFY) and Wipro (NYS: WIT) also moved higher, but on noticeable increases in volume. If Big Money investors see value in these Indian shares, speculators could be betting that Sify and Rediff.com are next to be bought. Do you agree? Would you buy shares of Sify Technologies at current prices? Please weigh in using the comments box below.
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