Going Global
Jan 21st, 2008 at 9:25 am by Susie
Now it’s India:
MUMBAI: Investors on Dalal Street have lost over $300 billion (Rs 11,85,285 crore) in the last six days with more than half of the loss coming from Monday’s fall of the benchmark index Sensex - its biggest ever.
The 30-share index Sensex today witnessed a fall of 1,400 points, tumbling below the 18,000-point to close at 17,605.35. The huge drop in the index was led by blue chip heavyweights - Reliance Energy, ACC, Bajaj Auto, DLF and Reliance Industries.
[...] According to market analysts, the major fall has been mainly due to the slowdown concerns in the US economy among other factors.
“The major factors behind today’s market meltdown are US recession and margin call, besides panic selling has also crept in…all the major Asian markets are crackling like anything,” Asika Stock Brokers’ Paras Bodhra said.
If you didn’t laugh, you’d cry.
