The market has seen hit the circuit and both NSE, BSE got closed for 1 hrs. The market were not bleeding but were on onslaught of the leveraged investors. When it opened after the circuit closure it started moving up for a while and again started falling. The investor and traders could just not hold their nerves have see panic everywhere with epicenter in mumbai. At these lower levels there were some retails investors ready to invest but were not able to buy or sell as the margins of their brokers already exhausted. One of the big trading portals has suspended margin and marginplus trading till the next notice. As this merciless killing was going on the FTSE also opened in red. But some time later FED chief declared the 75 bps cut in the FED rate. This helped FTSE recover and it up by 159 points, CAC is also trading in green. The US markets have started and till now they seeing the same color as Indian markets have. I just hope that this extra cash flow to India and some investors recover some of their losses tomorrow.
10.23 PM, 22 Jan, 2008
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