Sensex falls 1000 points – India headed for a nasty depression with India Inc. running for cover
Kiran Rao
Mar. 17, 2008

The market breadth was extremely negative - out of 2,716 stocks traded, 2,404 declined, 282 advanced and 30 were unchanged today. Sensex dropped as US investment bank Bear Sterns had a run and the US Government had to rescue the bank through JP Morgan Chase. The NSE Nifty dropped 243 points (5.1%) to end at 4,503.

The liquidity situation in Indian stock market is dangerous. The economy is also plunging. India is headed for a depression. India Inc. the so called western outsourcing based business hype is running for cover as wave of catastrophic collapse come as Tsunami.

The BSE Bankex dropped 9% (754 points) to 7,569. The Realty index slumped nearly 8% (606 points) to 7,106, and the Metal index declined 7.5% (1,119 points) to 13,725.

ICICI Bank crashed nearly 14% (Rs 121) to Rs 757. HDFC slumped 11% (Rs 277) to Rs 2,226. While HDFC Bank slipped nearly 6% to Rs 1,239, SBI declined 4.7% to Rs 1,633.

Sensex falls 1000 points – India headed for a nasty depression with India Inc. running for cover
Kiran Rao
The economy is also plunging. India is headed for a depression. India Inc. the so called western outsourcing based business hype is running for cover as wave of catastrophic collapse come as Tsunami.
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India will print $150 billion in Rs. at the cost of budget deficit and inflation to bail out the farmers – interesting election winning strategy that can devastate India in future
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The only way this can be funded is by borrowing which is nothing else other that pure and simple printing money recklessly. The consequence of this is severe.
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The crash in Sensex and decelerating industrial output points recession in India
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Initial Public Offerings flop as investors lose millions of dollars in India – India Inc. scared of mandatory 25% minimum public shareholding
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Sensex ends down 567pts, India Inc. in steep decline for lack of innovation
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The problems in Indian stock market stems from the lack of innovation by India Inc. – the so called new business culture of copying US business models, grab outsourcing contracts from US and selling western products to Indian communities.
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India will borrow more and pay Government employees – a bad fiscal policy that mirrors reckless Bush Administration in US
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The fiscal policies that is drowning the US economy into inflation and depression at the same time, are guiding Indian politicians in power.
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