Bears OverPower Sensex.

Sensex tumbles over 200 points 

Sensex has throughout the day remained in the clutches of sellers, with the selling intensifying in the last leg of the day’s trading session.

The BSE Sensex has ended the day at a provisional close of 8518 points, down 206 points from its previous close.

The NSE Nifty ended the day at a provisional close of 2574 points, down 70 points from its previous close.

The Sensex started the day on a weak note on the back of negative cues coming from the Dow Jones and Nasdaq Composite.

While Nasdaq lost 1.7% to 2103 points, and Dow Jones lost 1.2% to 10317 points. FIIs turned net buyers to the tune of Rs 421.60 crore , while domestic mutual funds turned net sellers of Rs 41.98 crore on October 04, 2005.

The indices on Wall Street witnessed sell-off yesterday on anticipation of further hike in interest rates due to renewed focus on inflation.

Indian ADRs were not spared either and they witnessed sharp fall.

ICICI Bank was the biggest loser, down 8.34% followed by Rediff (down 4.51%), HDFC Bank (down 4.36%), VSNL (down 3.88%) and Dr Reddy's (down 2.49%). MTNL, however, outsmarted the trend and moved higher by 2.90% taking cues from the domestic markets.

Sensex opened lower by 31 points from its previous close at 8,693 points.

The high for Sensex is at 8693.20 points while the fresh low of 8508.43 was hit in the last session of the days trading.

The Sensex oscillated a good 185 points in highly volatile trades.

The BSE Midcap index was down by 1.73% while the BSE Small cap index was down by 1.56%.

The BSE Auto index was down 2.64%, BSE Metal was down sharply by 4.15%, BSE FMCG index was down 2.68%, and BSE Bankex was down 3.46% .

Among Sensex stocks, 27 stocks closed lower while only 3 stocks ended higher.

Tata Steel was the biggest loser, down 5.15% to Rs 402.60 on volumes of 28.47 lakh shares. There are reports that the company is looking at buying a construction grade steel company in Thailand.

ICICI Bank followed with a loss of 4.88% to Rs 534.50 on volumes of 8.53 lakh shares following a sharp fall in its ADR.

ONGC lost 2.6% to Rs 1045 on volumes of 3.79 lakh shares

HDFC declined by 2.85% to Rs 1002. 15.05 lakh shares changed hands.

Dr Reddy’s was the biggest gainer, up 1.55% to Rs 923.

Ranbaxy followed with a gain of 1.15% to Rs 518.55.

HPCL was up 1.1% to Rs 325.7

Total turnover for the day amounted to Rs 3708 crore.

Advance decline ratio was negative at 1:3.5 with 588 shares moving higher while 1929 shares lower. 37 shares remained unchanged by now.

Reliance Industries topped in turnover terms with a turnover of Rs 233 crore, followed by HDFC with Rs 150.94 crore, and Bharti Televentures with Rs 148.26 crore.

Side counters like ITL Industries, Banswara Syntex, Blow Plast, Lakshmi Mills, Lakshmi Cotysn, Rishi Packers and Modern Dairy were all higher by more than 6% each.

While, State Bank of Mysore, Liberty Phosparte, Sesa Goa, Sumeet Industries, IFSL, Elgi Equipment, Vadilal Enterprises, Modison Metals, Rathi Udyog, and Pradeep Metals lost in a range of 10% to 5% each.

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One Eye MOM Story.

My mom only had one eye.
I hated her... she was such an embarressment..
My mom ran a small shop at a flea market.
She collected little weeds and such to sell...
anything for the money we needed
she was such an embarressment.

There was this one day during elementary school..
It was field day, and my mom came.
I was so embarressed. how could she do this to me?
I threw her a hateful  look and ran out.
The next day at school...
"your mom only has one eye?!?!" ..and they taunted me.

I wished that my mom would just dissappear from this world
So I said to my  mom, "mom.. why dont you have the other eye?
If you're only gonna make me  a laughing stock, why dont you just die?!!!"

My mom did not respond.. I  guess i felt a little bad, but at the same time, it felt good to think  that i had said what i'd wanted to say all

this
time..

Maybe it was  because my mom hadnt punished me, but i did'nt think
that i had hurt her feelings very badly.

That night...   I woke up, and went to the kitchen to get a glass of water. My mom was crying there, so quietly, as if she was afraid that she might  wake me. I took a look at her, then turned away. because of the thing I had said to her earlier.  There was something pinching at me in the corner  of my heart. Even so, i hated my mother who was crying out of her one eye.

So I told myself that i would grow up and become successful, cause I hated my one-eyed mom and our desperate poverty. Then i studied real hard.

I left my mother and came to Seoul and studied, and got accepted in the Seoul University with all the confidence I had. Then, I got married. I bought a house of my own. Then I had kids, too.. Now i'm living happily as a successful man. I like it here because it's a place that doesnt remind me of

my Mom.

This happiness was getting bigger and bigger, when.. what? who's this?
It was my mother.....still with her one eye. It felt as if the whole sky was falling apart on me. My little girl ran away, scared of my mom's eye and i asked her, "who are you?!" "I dont know you!!!" as if trying to make that real. I screamed at her," how dare you come to my house and scare my daughter!" "GET OUT OF HERE! NOW!!!" and to this, my mother quietly answered, "oh, i'm so sorry. I may have gotten the wrong address," and she dissappeared out of sight.

Thank goodness... she doesnt recognize me.. I was quite relieved. I told myself that i wasnt going to care, or think about this for the rest of my life. Then a wave of relief came upon me...one day, a letter regarding a school reunion came to my house.

So, telling my wife that I was going on a business trip, I went.  After the reunion, I went down to the old shack, that I used to call a house...just out of curiosity.

There, I found my mother fallen on the cold ground. But I did not shed a single tear. She had a piece of paper in her hand.... it was a letter to me.

My son...I think my life has been long enough now.. and... I wont visit Seoul anymore...but would it be too much to ask if i wanted you to come visit me once in a while? I miss you so much.. and I was so glad when I heard you were coming for the reunion. But I decided not to go to the school. ...for you...and I'm sorry that I only have one eye, and I was an embarrassment for you.

You see, when you were very little, you got into an accident, and lost your eye. As a mom, I couldnt stand watching you having to grow up with only one eye... so i gave you mine... i was so proud of my son that was seeing a whole new world for me, in my place, with that eye. I was never upset at you for anything you did.. the couple times that you were angry with me,.. i thought to myself, 'it's because he loves me..'

My son... oh, my

son... I dont want you to cry for me, because of my death. please dont cry... My son, i love you so much

So folks don't be ashamed of your mom..

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Market Wrap

Weak global markets infect Sensex 

Concerns that FII inflow may slow down due to weakness in the Indian rupee against the US dollar and a subdued to weak trend in global markets triggered a correction on the bourses today. A host of small- and mid-cap stocks meandered lower, and some side counters like Voltas and GE Shipping proved volatile.

Select stocks made headway on renewed buying in an otherwise subdued market.

The 30-share BSE Sensex lost 75.49 points or 0.8% to 8,724.47. The S&P CNX Nifty shed 18.95 points or 0.71% to settle at 2,644.40.

Asian and European stocks were in decline on Wednesday, aping their US counterparts following comments from three Fed officials who made it quite clear that the US central bank will keep raising interest rates to keep inflation at bay.

Turnover declined on BSE, at Rs 3,336 crore compared to Tuesday’s Rs 3,835 crore.

The weakening of the rupee against the dollar has set off fears that FII inflows into India may slacken. The rupee struck a fresh 10-month low today before recovering from the lower level. FII inflows have beem a telling influence on the how the Indian bourses moved (upward) this year. The cumulative FII inflow in calendar 2005 has reached $ 8.65 billion (till 4 October 2005), as compared to an inflow of $ 8.51 billion in whole of calendar 2004.

The Sensex has been mounting up in the past few days on the back of data indicating strong GDP growth in Q1 June 2005, a heavy monsoon this year, along with expectations of robust Q2 September 2005 results. From a recent low of 8,221.64 on 22 September 2005, the Sensex has spiraled up 578.32 points or 7% in a short while to a lifetime closing high of 8,799.96 on 4 October 2005.

ICICI Bank was the subject of a sell-off today after the private sector bank said it would consider further issue of equity capital in a board meeting on 13 October 2005. Index heavyweight Reliance Industries (RIL) turned out volatile, oscillating between positive and negative territory.

Software major Infosys managed a rebound from the lower level as the company is expected to come out with buoyant Q2 results. Refinery stocks moved upstream following a sharp fall in global crude oil prices. Buying was conspicuous in bearings manufacturers, in select IT stocks, and some power-equipment makers.

Three PSUs – HTM, ITI and MTNL - surged. All the three stocks rose on high volume.

Zee Telefilms spurted on high volume.

Stocks like Mahindra & Mahindra, NIIT, GSFC, Kennametal Widia, Agro Tech Foods, Amtek Auto, Rallis India, Bharat Gears, Amtek India, iGate Global Solutions, Sri Adhikari Brothers, Kinetic Engineering, MM Forgings, Shanthi Gears, FAG Bearings, BASF India, Dabur Pharma, Tamil Nadu Newsprint, Sasken Communication, Wartsila and Blue Dart Express rose between 3% to 8% for the day.

ICICI Bank plunged 4.4% to Rs 563.50. 6.7 lakh shares changed hands in the counter on BSE.

ITC lost 3.5% to Rs 131.75. The stock declined on huge volume of 69.5 lakh shares.

The launch of its first scooter model failed to boost Hero Honda. The stock lost 1.4% to Rs 752.05.

Hindalco shed 1.7% to Rs 150 and Tata Steel lost 2% to Rs 423.75.

RIL lost 0.5% to Rs 801.55. 17.4 lakh shares changed hands in the counter on BSE.

Media major Zee Telefilms jumped 6% to Rs 186.80. The stock rose on high volume of 36.3 lakh shares. Zee said on Tuesday it has appointed Jagjit Singh Kohli as the CEO of Siticable Network Ltd, a subsidiary of the company. Jagjit Singh Kohli is a cable industry veteran with 20 years experience in various capacities. Kohli founded INCablenet, and pioneered the corporatisation of the cable industry and the MSO concept.

Software bellwether Infosys rose 0.8% to Rs 2,651.55. The software major unveils its Q2 results on 11 October 2005.

Ranbaxy gained 2% to Rs 513. 3.7 lakh shares changed hands in the counter on BSE.

NTPC rose 1.5% to Rs 107.90. 14.7 lakh shares changed hands in the counter on BSE.

Expectations of a hike in cement prices boosted cement scrips. Grasim (up 1.4% to Rs 1,360), Gujarat Ambuja Cements (GACL) (up 0.79% to Rs 76.85) and ACC (up 0.4% to Rs 496.40). ACC staged a solid rebound from the lower level. It recovered from the day’s low of Rs 485.10.

HMT leaped up 16.6% to Rs 106.30. The stock rose on huge volumes of 66.9 lakh shares. ITI advanced 6% to Rs 72.60. 37.4 lakh shares changed hands in the counter on BSE.

MTNL climbed 3.7% to Rs 140.60. 16.7 lakh shares changed hands in the counter on BSE. From a recent low of Rs 127.50 on 30 September, MTNL has risen 10.2% in the past three trading sessions.

IT education major NIIT spurted 8% to Rs 348.10. 3.7 lakh shares changed hands in the counter on BSE.

M&M advanced 3% to Rs 405.70. 6.9 lakh shares changed hands in the counter on BSE. The stock rose for the third day in a row today boosted by strong September vehicle sales.

Chemfab Alkalis flopped 8% to Rs 177 following the announcement of Q2 September 2005 results. For Q2 September 2005, Chemfab Alkalis reported a 23.2% growth in Q2 September 2005 net profit to Rs 3.50 crore compared to Rs 2.84 crore in Q2 September 2004. A sharp surge in tax provision (including deferred tax provision of Rs 1.10 crore) restricted the growth in bottom line. Net sales rose 22.4% to Rs 22.34 crore (Rs 18.24 crore).

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Sensex Ends in Red.

Deceleration in FII inflows, subdued global markets prompt 75-point drop in Sensex 

Figures indicating a slowdown in FII inflow in the past few days and a subdued to weak trend in global markets triggered profit taking on the domestic bourses today. A host of small- and mid-cap stocks moved lower, and some side counters like Voltas and GE Shipping proved volatile.

Select stocks made headway on renewed buying in an otherwise weak market.

ICICI Bank was the subject of a sell-off after the private sector bank said it would consider further issue of equity capital in a board meeting on 13 October 2005. Index heavyweight Reliance Industries (RIL) turned out volatile, oscillating between positive and negative territory.

Software major Infosys managed a rebound from the lower level as the company is expected to come out with buoyant Q2 results. Refinery stocks moved upstream following a sharp fall in global crude oil prices. Buying was conspicuous in bearings manufacturers, in select IT stocks, and some power-equipment makers.

Three PSUs – HTM, ITI and MTNL - surged. All the three stocks rose on high volume.

Zee Telefilms spurted on high volume. Stocks like Mahindra & Mahindra, NIIT, GSFC, Kennametal Widia, Agro Tech Foods, Amtek Auto, Rallis India, Bharat Gears, Amtek India, iGate Global Solutions, Sri Adhikari Brothers, Kinetic Engineering, MM Forgings, Shanthi Gears, FAG Bearings, BASF India, Dabur Pharma, Tamil Nadu Newsprint, Wartsila and Blue Dart Express rose between 3% to 8% for the day.

The 30-share BSE Sensex lost 75.49 points or 0.8% to 8,724.47.

Asian and European stocks slipped on Wednesday in line with their US peers after comments from three Fed officials made it clear that the US central bank will keep raising interest rates to keep inflation at bay.

Turnover declined on BSE. BSE clocked a turnover of Rs 3,336 crore compared to Tuesday’s Rs 3,835 crore.

ICICI Bank plunged 4.4% to Rs 563.50. 6.7 lakh shares changed hands in the counter on BSE.

ITC lost 3.5% to Rs 131.75. The stock declined on huge volume of 69.5 lakh shares.

The launch of its first scooter model failed to boost Hero Honda. The stock lost 1.4% to Rs 752.05.

Hindalco shed 1.7% to Rs 150 and Tata Steel lost 2% to Rs 423.75.

RIL lost 0.5% to Rs 801.55. 17.4 lakh shares changed hands in the counter on BSE.

Media major Zee Telefilms jumped 6% to Rs 186.80. The stock rose on high volume of 36.3 lakh shares. Zee said on Tuesday it has appointed Jagjit Singh Kohli as the CEO of Siticable Network Ltd, a subsidiary of the company. Jagjit Singh Kohli is a cable industry veteran with 20 years experience in various capacities. Kohli founded INCablenet, and pioneered the corporatisation of the cable industry and the MSO concept.

Software bellwether Infosys rose 0.8% to Rs 2,651.55.

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Stock News

DS Kulkarni decides to come up with Rights issue

DS Kulkarni Developers Ltd`s board of directors has decided to come up with right issue in the ratio 1:1 of equity shares of Rs 10 each of the company at a premium of Rs 90 per share and issue price Rs 100 per share.

The aggregate issue size is Rs 1,10,00,00,000.

The board has decided to put up the draft letter of offer to the merchant bankers for their comments and approval.

Shares of DS Kulkarni were last traded on BSE at Rs 143.35, down by 3.44 per cent

 

Federal Bank board to consider merger with LKB

Federal Bank Ltd`s board of directors will consider merger of Lord Krishna Bank Ltd (LKB) with the Bank subject to satisfactory details, financial and legal due diligence, obtaining all statutory, regulatory and other approvals and arriving at an acceptable valuation.

Shares of Federal Bank were last traded on BSE at Rs 195.65, up by 0.54 per cent.  

IKF Technologies gets board nod for setting up refinery in Rajasthan

IKF Technologies Ltd`s board has approved to purchase industrial land for setting up refinery from Rajasthan State Industrial Development and Investment Corporation Ltd for producing Bio-Fuel.

The board has also proposed to set-up R&D center and office at Udaipur in collaboration with, MLS University of Udaipur.

The board has appointed Bhaskar B Rao, as the additional director of the company.

Shares of IKF Technologies were last traded on BSE at Rs 4.96, up 4.86 per cent.

Madhya Pradesh Glychem members declare 11% dividend

Madhya Pradesh Glychem Industries Ltd`s members have declared 11% dividend for the year ended March 31, 2005 that is Rs 1.10 per equity share of Rs 10 each.

The members have re-appointed P S Santhanakrishnan and P D Nagar as the directors of the company. They have also re-appointed Ashok Khasgiwala & Company, Chartered Accountants, as the auditors of the company to hold office up to the conclusion of the next annual general meeting (AGM) of the company.

Shares of Madhya Pradesh Glychem were last traded on BSE at Rs 42.50, down 5.03 per cent.

 

Nagarjuna Construction gets members nod for raising $120 mn

Nagarjuna Construction Company Ltd`s members have approved to raise up to US $ 120 million by way of issuing Global Depository Receipts or Foreign Currency Convertible Bonds and consequential alterations in the memorandum and articles of association of the company.

Shares of Nagarjuna Construction were last traded on BSE at Rs 237, up 0.51 per cent.

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Intraday Calls for 6th-Oct -2005

INTRADAY TRADING CALLS

 

 

Script	Call	CMP	Target	StopLoss
Abbot	BUY	657	667	652
J.B.Chemical	BUY	93	96	91
Sonata	BUY	32	34	31
ABB	BUY	1771	1783	1760

 

 

Note:Plz Maintain Strict StopLoss.

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Stock News

Autolite members approve issue securities worth Rs 7.5 crore

Autolite (India) Ltd`s members have authorized the board to issue securities in one or more tranches for a sum not exceeding Rs 7.5 crore as the board may deem fit.

The members have also approved the delisting proposal of equity shares of the company from any one or more stock exchanges.

The members have re-appointed R S Mehta, Anoop Bartaria, S L Gupta and G S Das as the directors of the company, liable to retire by rotation. The members have also appointed H C Garg & Co, chartered accountants, Jaipur as the auditors of the company.

Shares of Autolite were last traaded on BSE at Rs 25.05, up 4.81 per cent.

 

Banswara Textile board to consider amalgamation with Banswara Syntex

Banswara Textile Mills Ltd has convened a meeting of the board of directors of the company on October 08, 2005, to consider order of high court of Rajasthan, Jodhpur in the matter of amalgamation of the company with Banswara Syntex Ltd.

Shares of Banswara Textile were last traded on BSE at Rs 1.50

 

Essel Propack board to consider buy-back of shares

Essel Propack Ltd has convened a meeting of the board of directors of the company on October 11, 2005 to consider the proposal for buy-back of shares.

Shares of Essel Propack were last traded on BSE at Rs 358.85, up 3.68 per cent.

 

Freshtrop Fruits declares 12.5% dividend

Freshtrop Fruits Ltd members have declared final dividend of 12.5 per cent on the paid up equity share capital of the company.

The members have re-appointed Mayur Shah as director of the company.

Shares of Freshtrop Fruits were last traded on BSE at Rs 48.30, up by 5 per cent.

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Intraday Calls for 5th-Oct -2005

INTRADAY TRADING CALLS

 

Script	Call	CMP	Target	StopLoss
Adani Export	BUY	65.75	68	64
Alstom Power	BUY	205	209	201
Aurobind Phar	BUY	368	375	364
Bnk Of India	BUY	132	137	129
G.E.Shipp	BUY	212	220	206
GTL	BUY	127	132	123
Shiiping Corp	BUY	165	170	162.5

 

 

Note:Plz Maintain Strict StopLoss.

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Dream Cars

Mercedes-Benz SLR McLaren
	The new Mercedes-Benz SLR McLaren is a two-seater supercar with swing-wing doors and styling elements borrowed straight out of Formula 1. Equipped with cutting-edge race car technology and new Merc developments, SLR McLaren ensures an unusually high standard of safety while remaining suitable for the everyday use. Price: $4,52,000 (approx.)

The Carrera GT
	The Carrera GT is an innovative sports car that defines the unique philosophy of vehicle design to create a car that is more than the sum of its parts. While the engine is one of the most powerful on the road, it offers six-speed racing gearbox and the radical new ceramic clutch system for day-to-day practicality. Price: $4,43,000 (approx.)

Maybach 62 sedan
	The 2005 Maybach 62 is a 4-door, 4-passenger sedan. It features a standard 5.5-litre and 543-horsepower engine. A carryover from the 2004 model, Maybach’s styling balances classic and avant-garde features. The car’s primary goal is to deliver an "entirely new definition of first class". Price: $3,77,000 (approx.)

Rolls-Royce Phantom
	Ranked as the sixth-generation Phantom, the ultra-luxury sedan is powered by a 453-horsepower, 6.75-litre V-12 engine. Aluminum space-frame construction makes it the lightest structure ever used by Rolls-Royce to build this super car. Price: $3,20,000 (approx

Lamborghini Murcielago

The Lamborghini Murcielago is 2-seater, 2-door with gull-wing doors, mid-mounted V12 engine and gearbox mounted in front of the engine. Presented as a concept car in 2003 in Detroit - where it generated significant interest among Italian supercar enthusiasts - the production version of this roadster made its official debut at Geneva in 2004. As with the Coupe, the design of the Murcielago Roadster is exclusive, aggressive and extreme. Price: $2,81,000 (approx.)

Ferrari, the 612 Scaglietti
	Measuring 193 inches long and 77 inches wide, it is slightly bigger than a Lexus LX 470 sport/utility. Even in this day when everything seems to come jumbo or supersize, our first glance at this flagship Ferrari caused us to ask: "Est tu, Ferrari?" Yes, you may call it the big new baby. Price: $2,54,000 (approx

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Little India in Singapore

I shudder to think what round-the-clock shopping at Singapore's Mustafa and a new metro right up to its doorstep will do to India's diplomacy.

For our ministers and civil servants, who crowd Singapore either for bilateral meetings of the utmost importance or because it just happens to be an unavoidable stop on the cheapest and shortest route between Rio de Janeiro (or Accra or Vancouver) and Delhi, will now spend even more time and money in this place of pilgrimage for high and low.

Wherever Indians gather, the conversation turns sooner or later to shopping. And in the Far East, more often than not it centres on that magic name, the universally understood shorthand for two back-to-back emporia in the dingy part of Singapore called Little India.

One is the old Mohamad Mustafa & Samsuddin Co in Serangoon Road. The other Mustafa Centre opened in 1995 in nearby Syed Alwi Road. They are now open 24 hours -- an innovation even for innovative Singapore -- and are served by the North-east Line, which started on June 20.

Farrer Park, the new station diagonally opposite the old Mustafa, commemorates the site where on February 17, 1942, 45,000 Indian troops joined the Indian National Army, then led by Mohan Singh.

Mustaq Ahmad, Mustafa's youthful 50-something managing director whose family is from Uttar Pradesh, probably wouldn't thank me for saying that his store is an Indian shrine. His website claims customers from Japan, America and Europe. Perhaps there are.

In recent years, I have seen some obviously Slav types, just as the occasional Chinese face is now visible among the Malayali or Tamil Muslim shop assistants. But the overwhelming majority is still South Asian.

The Chinese Singaporean MP who remarked in caustic racism that it gets dark very early in Little India -- referring to the masses of Indian and Bangladeshi workers that congregate there on Sunday evenings when the police are out in numbers to regulate traffic -- might have included Mustafa.

Another joke at South Asia's expense is that the word has spread in Bangladesh that money pours out if you touch the wall of Tekka Mall.

Only a stone's throw away from Mustafa, Tekka Mall is Little India's old heart, a grubby rabbit warren of shops and stalls where you can buy goat's meat, subcontinental fish and spices and gaudy nylon sarees. The wall-touching refers to the ATM machine outside.

Such pejorative references may explain why Mustafa shies away from proclaiming that its main clientele is South Asian. Mustaq Ahmad likes to recall that a man who bought five television sets paid for them from the US and had the goods shipped to Russia. Such tales create a sophisticated international image.

Yet, statistics show that Indians are among Singapore's best buyers, ranking just after South Africans. The smart set might sneer that what they buy is trash -- trinkets, inexpensive household gadgets and fancy goods, and that, in any case, it is for resale. Often, apparently, one man acts as courier for several persons in India.

But the colour of money doesn't change with what it's spent on, and it is this almost wholesale mopping up of cheap goods that keeps Singapore's economy ticking over in these hard times.

It also explains why when so many fashionable stores and boutiques are on the rocks, Mustafa continues to increase its profit year after year. Starting as a convenience store, it now has 3,000 items on site and assets worth more than $100 million.

Mustaq Ahmad is nothing if not adventurous. He has tried out mail order catalogues. Online sales rake in more than $17,000 a month. His 200 lines in watches range from $11 to more than $8,500.

There are money changers, a travel agency, a boarding house and a cafeteria on the premises so that all the needs of a modest shopper from the subcontinent are taken care of.

Lately, I see that goods have spilled out on to Syed Alwi Road with separate cash registers on the pavement, which is also decked out with tables and chairs for eating. It's really a third al fresco Mustafa.

Still, Mustafa isn't my choice. The jostling crowds, narrow aisles, brusque assistants and crammed shelves with no attempt at display put me off. But not others.

Once, when an Indian VIP did not turn up for a dinner in his honour where he had to make a presentation to august Singaporean dignitaries, the deputy high commissioner clambered into his car, drove off to Little India and made a beeline for Mustafa.

There, as he had guessed, the VIP was happily buying up the store, oblivious of any obligation to India-Singapore relations.

Tailpiece: Way back in the early 19th century when Stamford Raffles founded Singapore, Little India was where Indian settlers grew betel nut, fruit and vegetables, ran a brick kiln and kept cattle, goats and sheep.

Buffalo Road and Kerbau (buffalo in Malay) Road bear testimony to those times. So does Desker Lane where a Eurasian pioneer had his livestock and abattoir.

It is now a street of ill repute -- you can see clutches of painted girls hanging about the balconies -- but that doesn't faze the pioneer's great-grandson, Barry Desker, a seasoned diplomat who was Singapore's ambassador to Indonesia and is now director of the Institute of Defence and Strategic Studies.

"I always say that Desker Lane has been in the flesh trade all along!" he laughs.

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