Saturday, October 25, 2008

Biggest falls in Indian stock market history - Oct 24, 2008


The uncertainty in Dalal street is likely to linger further as the markets on Friday gave a thumbs down to the Reserve Bank of India's mid-term Credit Policy and investors would adopt a cautious approach following weak global cues, analysts say.

  • The rise and fall of the Sensex has been dizzying. The markets are back to the point it scaled three years ago. . . The BSE Sensex on Friday crashed by 1,071 points to close at 8,701 points. This has been an incredible year for the markets, after scaling the 21,000 peak in January 2008, the markets are at 8,000 now.

  • On Friday, the Reserve Bank of India [Get Quote] gave the markets its biggest blow as it left key interest rates unchanged and lowered the GDP target to 7.5-8% for 2008-09.

  • Markets across the globe crashed on Friday. Japan's Nikkei shed 9.6% (812 points) to 7,649. Hang Seng plunged 6% (822 points) to 12,939. The Seoul Composite index tumbled 10.5% (111 points) to 939.

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