Posted on 01/21/2008 9:51:30 PM PST by 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.
They do appear to be somewhat pleased...
Wow the foreign slicks are getting there ass on a plate. Some say the S&P 500 index would fall more than 5 per cent when it resumes trading. That would be some serious pain.
Lesson for the world. Mess with uncle and it will get ugly.
Never mind we are sending over a BILLION a day to oil people who hate us.
You’ve got mustard on yer head, right there. Did you know?
The damned losuy part of it all is that so many aquaintences of mine are living in 3,500 sf McMansions that they could ill-afford, while others live within thier means.
It won’t take India long to realize that they were buying up wothless securities hand over fist, never knowing that they would be paying for a huge house and Hummer for another bleach blonde bimbo and her husband, the Starbucks manager. The mortagae lenders have really pulled a fast one, this time.
When the grim reaper loan servicers come calling, the pity mongers (Dems)will cry out for mercy on my overextended compadres and help them out of thier bind by using my taxes...
I guess that makes me the dumbass.
I believe you credit voters with far more sense than has been demonstrated in the past...
That is sandalwood.
haha! who got the poisoned junk in the end after all? so any predictions about tomorrow? I think we’ll def close under 113— which is the 20% mark from Oct. Maybe even dip bellow 10K but rally around 112—. Upper 10’s by the end of the month. Watch out other issues Economy is deciding the primaries this year!
I’m beginning to wonder if the lenders have been holding on to those houses as capital they need to liquidate rapidly at whatever price.
I think that is true. I was ready to buy in Novemeber, but even with great credit and a good down payment BofA gave me a slightly higher rate than I expected. I demanded to know why, and they simply said it was the way things were headed.
I told them to keep thier loan. I would wait till they were begging for good risk borrowers, and it gives me more time to save.
that’s a Bengali Rally!
"Holy Snikes!
Dow Jones Industrial Average futures contract are off 520 points at 11,586;
Nasdaq futures were at 1773.25, down 76.25.
Standard & Poor's 500 futures recently were at 1265, down 60.3.
Let me hasten to remind you that this is "contained."
Imagine how much worse it would be like if it were not."
I always predict short term wrong, so let me try to help the cause. Dow down 500 or more!
voters will vote - esp. in a recession, if we are to have one - for the candidate who promises to write them the largest checks.
Much of this could have been avoided if the Democrat controlled congress would have given us a good package of tax reductions, permanent ones, including eliminating the AMT.
disagree. I think the only way to have avoided this would have been not to have bid these assets up to the sky in the first place.
Sten I honestly don’t know. I express what my perception is, but I’m no sage, far from it. I don’t quite understand why the business community would want to dump a party that had given them carte blanche, but who knows.
On Indian TV right now, various stocks down between 11 and 21%. I think Sensex is down 13% but a very fluid situation. Just about to trigger another circuit breaker.
lol
Don’t look now, but the Sensex is beginning to look REALLY ugly again.
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