Bombay Stock Exchange halts trading after 9.7% drop

AFP via translation | January 22, 2007

[HAL9000]

via translation -

The Bombay Stock Exchange will suspend its trade after a dip of 9.7%

BOMBAY (India) - The Bombay Stock Exchange in India has suspended trading Tuesday after a dip of 9.75% at the opening in the wake of other places in Asia, she said.

The index of thirty major Indian values, the Sensex, lost 1.716,71 points to 15.888,64 points when the transactions were automatically halted for at least one hour.

The Bombay Stock Exchange had already unscrewed Monday, down 7.41% at the close, its largest decline ever recorded for a meeting.

"Investors clearly reacting to the weakness of Asian markets," noted Pashupati Advani, director of the brokerage Advani Share Brokers.

The Sensex-30 has now lost 25% since its historic high points at 21206.77 reached at the meeting on January 10.

The foreign investment fund, which had flooded the Indian stock market in 2007 with $ 17.2 billion, have now sold $ 685 million since January 1, 2008.

The Awards Asia suffered further losses monumental Tuesday in the meeting, still haunted by the fear of a recession in the United States, major customer for Asian exports, and the consequences for the entire world economy.

The Asian markets had already experienced a black day Monday, contaminating the European places which have cashed their biggest declines since the attacks of September 11, 2001 in the United States.

[steve86]

There isn’t normally any noticeable delay at all on the Yahoo Dax quote — amazing how things break during panics.

[BurbankKarl]

CNBC Europe doesnt have a number....they just said its a huge selloff.

[BurbankKarl]

Madrid off 3.5%

[steve86]

CAC down 4 ish percent.

[BurbankKarl]

Helsinki down 4.6%

[politicket]

Anyone seeing any DAX numbers yet?

[incindiary]

http://news.bbc.co.uk/2/hi/business/7201658.stm

[FreedomCalls]

Could the Dow drop 1000 in a single day?

Dow will drop in the morning when the panicky trades are made and rebound in the afternoon when bottom feeders come in to snatch up some bargains that were unnecessarily bid down. Buy low sell high. Buy when it looks like everyone is selling. Sell when it looks like everyone is buying.

[M. Espinola]

This is only the beginning of major global stock indexes (led by banking related stocks) sinking into a 'crash-in-stages'.

Numerous key international stock indexes have lost anywhere from between 4%, 5%, 6%, 7%, 8% up to a staggering 9.34% for the second session in a row!This is not normal profit taking .

We are not heading into recession but a full blown depression, and that is if the enemies of the free world do not add to the financial panic by stagging additional, devastating terror attacks.

For those traders which were wise enough to have pre-positioned put options, already in place on the various stock indexes, the prospects for an exceptional profitable near future is exceedingly high.

Write-downs for high-risk, high-yield corporate debt, known as 'junk,' could dwarf losses in the mortgage mess. And that's when this financial crisis will finally hit bottom.

Asian markets plunge again

Asian markets plunge for second day

[steve86]

This is one of the more interesting full moon nights for the markets.

DAX down 4.3% about like the others.

BSE down 8.5%

Goodnight

[BurbankKarl]

its updating now

[FreedomCalls]

It would appear that a lot of cash has been accumulated somewhere.

Have you seen Dubai recently? It's estimated that something like 1/4 of all the world's large construction cranes are right now in Dubai.

[Professional]

I’ve done this long enough, to expect this. I at least have my sense of humor left.

I accurately predicted the demise of r/e, banking, global markets, but I thought that the US equity market, especially growth would actually do well. Wrong right now about the last part.

So, all my brilliance has given my clients 8 percent losses, instead of 15 or worse. Oh, how smart I am...

[politicket]

Thanks...time to catch some zzz’s before the opening bell.

[steve86]

Guess it is a 15 minute delay

I have never had a direct link for DAX

[BurbankKarl]

Because the NYSE hasnt bought it yet

[bruinbirdman]

"We are not heading into recession but a full blown depression, and that is if the enemies of the free world do not add to the financial panic by stagging additional, devastating terror attacks. "

BUY GOLD!!

yitbos

[Professional]

You sound like you need a hug. Unless you are a well pre positioned put optioned non depressed person. Then, you need a high five my man!

[rmlew]

I’m waiting for the jumpers. (And i hope unlike 2000, I don’t hear snotty interns at Cornell Medical Center/NY Presbyterian making jokes about traders who jumped short and didn’t finish the job)

[bruinbirdman]

"Have you seen Dubai recently?"

Crude Oil 86.53 -4.04

Down 13.5% YTD

yitbos