UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: pencils2 Big gold star, 5000 posts Top Favorite Fools Feste Award Nominee! Old School Fool CAPS All Star SN Explorer 1 Mission Team Member Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 7053  
Subject: India's Key Stock Index Drops by Most Ever Date: 5/18/2006 9:10 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
http://biz.yahoo.com/ap/060518/india_markets.html?.v=6

India's Key Stock Index Drops by Most Ever

Thursday May 18, 8:07 am ET

India's Key Stock Index Posts Biggest Point Drop Ever, Falling 6.8 Percent

BOMBAY, India (AP) -- India's benchmark stock index posted its biggest point drop ever on Thursday, tumbling 6.8 percent largely due to fears of higher taxes on foreign funds that invest in Indian stocks.

The Bombay Stock Exchange's 30-share Sensex fell to 11,391 points, down 826 points. On the rival National Stock Exchange, the 50-stock S&P Nifty closed at 3,389, down 246 points, also 6.8 percent.

Some of the drop was attributed to declines on global markets, but some brokers said the biggest trigger came from a vague notice in a government circular that some feared could lead to higher taxes on foreign funds that invest in Indian stocks.


...

Foreign funds have invested billions of dollars in India's stock market, driving its current rally that began in April last year. The Sensex has since soared more than 100 percent.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next

Announcements

Post of the Day:
TMFDeej's CAPS Blog

Activist Investors Unlocking Value at LSB Industries?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
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