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.
I think Sensex down -17% on cnbc India
Just lost the feed.
exactly! the damn thing is up 350% in 3.5 years, of course its crashing, what else should it do?
I wouldn’t short anything at this point. If the market makers get in and start infusing artificial support then you could get a short squeeze that would be very unpleasant, to put it mildly.
Join the club, we’re dumb asses across the board on so many issues these days, I’m just getting used to it.
What a revoltin’ predicament.
anyone know the rules for halting it again?
Look at #66. That is a crazy up move, that needs a serious correction. That short looks better than China.
There's a big risk premium now that is preventing lower rates from getting to the consumer. The Fed should take that into account when it comes to lowering interest rates.
what’s interesting is that commodities are getting whacked as well. Speculators obviously active in those markets as well.
That should have been -12%
Midcaps are currently down 16%
My friend, Captain McQueeg is everywhere on FR.
While commodities have done well..., if you have margin calls..., they will be sold down to cover!
That said..., at least such contracts represent tangible goods and not promises or balance sheets of dubious validity!
Bit of a rally now, Sensex down a mere 11%.
Reliance Energy getting killed.
This Nikkei rallied mid-session as well, and then closed almost at the very bottom of the day’s range. It will be interesting to see if this rally holds or fizzles.
For people who have cash lying around, what would you recommend they do? And yes, I know I’m asking you, some random freeper. But I don’t suppose you’ll be much worse than my financial advisor who seems barely past puberty.
So, if I tell my broker to unload 1000 shares of BRG at market, he might not even be able to sell it tomorrow, eh? It might take him a day or a week? Until it gets so low someone says OK?
yitbos
They’re still talking like this is a correction in the bull market and not a new bear market. Good luck with that. Finally mentioned a structural breakdown in the system.
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