Indian realty index crashes 10% - Indian real estate deflating from bubble stage very fast
Babu Ghanta
Nov. 11, 2008

The Sensex tumbled below the 10,000-mark to a low of 9,799, and finally settled with a loss of 696 points at 9,840.

The BSE Realty index slumped over 10% to 2,209. The Metal index shed 8.4% at 5,234, and the Power index plunged 7.7% to 1,769.

The market breadth was fairly negative - out of 2,602 stocks traded, 1,766 declined, 759 advanced and 77 were unchanged.

The mortgage apartment prices are slumping like house of cards. In major metropolitan areas there are lack of prospective buyers who have the cash or the ability to get a mortgage.

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