Financial melt down in India has started - Sensex and the Nifty, crashed further to plunge below 8800 points and 2600 points respectively
Kiran Chaube
Jun. 14, 2006

The fiscal system in India is in trouble. Record trade and budget deficit, irresponsible petroleum policies and unckecked dependence on Foreign Direct investments created the unprecedented bubble that burst with Western Financial Institutions running for cover like never seen before.

Both the indices, the Sensex and the Nifty, crashed further to plunge below 8800 points and 2600 points respectively for the first time in seven months on aggressive selling by funds.

The BSE benchmark Sensex plunged by 133.21 points at 8929.44 on brisk selling by funds and retail investors. Similarly, the National Stock Exchange index Nifty lost 30.50 points at 2632.80. Both the indices, at one stage traded higher at 9387.06 and 2767.75 respectively.

Financial melt down in India has started - Sensex and the Nifty, crashed further to plunge below 8800 points and 2600 points respectively
Kiran Chaube
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