Sensex crashed down 171 points - Indian economy faces the heat from global depression
Sudhir Shamlal
Oct. 30, 2009

The Asian stock market is extremely overbought. The Asian major economies are running out of steam from the stimulus money. The global depression is real and will continue for many decades.

The Sensex has crashed to c15,881 - down 171 points. The Nifty ended down 46 points at 4,704.

The market breadth is fairly negative, out of 2,741 shares traded, 1,573 have declined and 1,086 have advanced so far on the BSE.

The biggest problem for Indian economy is the debt service burden on common people. People are totally burdened with extreme levels of debt. The Government is also running extreme levels of budget deficit. The hope of Indian economy is exports and outsourcing. But the deepening global depression is creating a deep hole in that also.

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