Sensex crashes almost 800 points in panic selling – start of a multi-decade baer market?
Rita Nair
Dec. 17, 2007

This was waiting to happen. Sensex has formed the multi-year top and is ready to plunge below 7,000. The long term bear market showed its teeth as Sensex plunged 769pts in panic selling.

The foreign institution exodus from Indian equities marked is similar to that in other markets. The American and European financial institutions, hedge funds and private equity funds ran for cover and sold stocks right and left.

A heavy bout of selling in the late noon deals saw the index plunge to a low of 19,177 - down 856 points from the day's open. The Sensex finally ended with a huge loss of 769 points (3.8%) at 19,261. The market breadth was fairly negative at close - out of 2,954 stocks traded, 1,939 declined, 999 advanced and 16 were unchanged today.

The late rally at the end of the day is also negative. That says selling did not end. Sentiment indicators point to renewed more selling tomorrow.

Sensex crashes almost 800 points in panic selling – start of a multi-decade baer market?
Rita Nair
This was waiting to happen. Sensex has formed the multi-year top and is ready to plunge below 7,000. The long term bear market showed its teeth as Sensex plunged 769pts in panic selling.
READ MORE>>

A snub for General Electric and Westinghouse’s $100 billion nuke reactor revenue – communists in India threaten to topple Government in India
Tarun Lahiri
The kickbacks are not well distributed. Sonia Gandhi needs to manage the kickback sharing mechanism somewhat better.
READ MORE>>

Russia wants more money for its military hardware but India says ‘Niet’
Kiran Chaube
India’s frustration in price escalation may be having the root somewhere else. Given the warming relation between India, United States, and Russia may not be feeling obliged to subsidize the military hardware prices for India.
READ MORE>>

A 30% drop in manufacturing GDP – India Inc. in trouble?
Rohit Purakayastha
India’s fiscal mismanagement is noteworthy. The real effect of commodity inflation is still hidden and manipulated by the Indian Government. When the reality hits ground and native Indians start paying $90-100 barrel oil, inflation will skyrocket.
READ MORE>>

Sensex headed for 2500 - not 25000 as the world economies face depression for the first time
Nita Singh
It was the greed of these American and European financial institutions that have caused the mortgage fiasco. It is the same greed of the same people that will cause the great depression of the world.
READ MORE>>

ICICI bank employing armed thugs to recover loans – they are harassing men and women without any regard to human rights – India’s Reserve Bank warns ICICI Bank
Tarin Lahiri
These armed thugs – the so called recovery agents are approaching men and women and threatening them with all sorts of things. The cell phone calls at weird times with filthy language and threatening tones are common.
READ MORE>>

India will soon come out with measures to improve the conditions of farmers : PM Manmohan Singh
Kiran Chaube
The overall economic growth has averaged 9% per annum in the last three years but the country has achieved an average agriculture growth rate of 4% in the same period.
READ MORE>>

MORE ARTICLES >>