UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next
Author: pencils2 Big gold star, 5000 posts Feste Award Nominee! Old School Fool CAPS All Star SN Explorer 1 Mission Team Member SN Olympia3 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 7129  
Subject: Indian Stocks Plunge 10 Percent Date: 5/22/2006 9:50 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
http://biz.yahoo.com/ap/060522/india_markets.html?.v=4

Indian Stocks Plunge 10 Percent

Monday May 22, 8:51 am ET

Indian Stocks Plunge 10 Percent; Trading Halted for an Hour

BOMBAY, India (AP) -- India's benchmark stock index tumbled more than 10 percent Monday, hitting its daily drop limit and triggering a one-hour halt to trading, as investors dumped blue chips that have surged over the last year.

The 30-share Sensex plunged 1,111.70 points -- the biggest point drop -- or 10.2 percent, to 9,826.9, in two hours of trading Monday morning. On the rival National Stock Exchange, the 50-share S&P Nifty index fell 350.45 points, 10.8 percent, to 2,896.45.

The Sensex has fallen 20 percent since reaching an all-time high of 12,612, points on May 10, nearly double where it was last April.

Many believe the market has climbed too high too fast.

"What has happened is a certain amount of nervousness in the market. My advice to retail investors is to stay invested," said Finance Minister P. Chidambaram.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement