Posted on: 18-05-06 16:32:23
Quote:
Originally posted by tamilkuravan
This is what the indian finance minister had to say :
" No FII has been assessed as a trader as they are investors and this is a manufactured crisis based on uninformed reporting," he told reporters shortly after the stock market closed trading today after a fall of 826 points on reports of withdrawal by FIIs. "
Chidambaram can say what he wants (his party gets big time contribution/kickback from FIIs). Lots of FIIs are traders in the guise of investors. They have made their money and even a loss of a crore does not bother them. But loss of couple of lakhs to a small investor burts a lot.
DIO
Friday, 19th May 2006: The BSE Sensex closed today 452.82 points down at 10,938.61 below the 11,000 mark after it fell a whopping 846 point on Thursday. ( Economic Times )
I'm remimded of that song by Tom Petty, Free Falling.
And I'm free, free fallin'Yeah I'm free, free fallin'
Free fallin', now I'm a, free fallin', now I'm aFree fallin', now I'm a, free fallin'
Cheers,
Ayaskant.
Quote:
Originally posted by desi in ottawa
Quote:
Originally posted by tamilkuravan
This is what the indian finance minister had to say :
" No FII has been assessed as a trader as they are investors and this is a manufactured crisis based on uninformed reporting," he told reporters shortly after the stock market closed trading today after a fall of 826 points on reports of withdrawal by FIIs. "
Chidambaram can say what he wants (his party gets big time contribution/kickback from FIIs). Lots of FIIs are traders in the guise of investors. They have made their money and even a loss of a crore does not bother them. But loss of couple of lakhs to a small investor burts a lot.
DIO
-----------------------------------------------------------------
Success
To laugh often and much;
To win the respect of intelligent people and the affection of children;
To earn the appreciation of honest critics and endure the betrayal of false friends;
To appreciate beauty, to find the best in others;
To leave the world a bit better, whether by a healthy child, a garden patch or a redeemed social condition;
To know even one life has breathed easier because you have lived.
This is to have succeeded. Bessie Stanley
May 22, 2006 16:36 IST
The Sensex opened with a positive gap of 133 points at 11,072. The index touched a high of 11,143, but soon slipped into the negative zone.
At 11:56 am the Sensex crashed by 1112 points to 9,827. The Nifty was down 350 points at 2896.
The bloodbath at the markets ended with the Sensex losing 457 points to close at 10,482.
The Nifty lost 166 points to close at 3,081.
Trading was suspended in the market for an hour as the market has hit the lower 10% circuit.
The crash followed a statement by Central Board of Direct Taxes seeking to dispel suggestions that its draft circular was ambiguous.
Asked about specific reasons for the fall, marketmen could not pinpoint but said there seems to be panic all around.
Technical analyst Anil Magnani said, "Similar situation as on May 17, 2004 is being witnessed. Meltdown is more in futures market. It is redundant to look at levels."
"Rumours of many brokers not being able to honour their payments has also led to the crash," analysts said, adding that all were stuck up in a big payment crisis and are trying to meet their obligations.
Quote:
Originally posted by ayaskant
Friday, 19th May 2006: The BSE Sensex closed today 452.82 points down at 10,938.61 below the 11,000 mark after it fell a whopping 846 point on Thursday. ( Economic Times )
I'm remimded of that song by Tom Petty, Free Falling.
And I'm free, free fallin'Yeah I'm free, free fallin'
Free fallin', now I'm a, free fallin', now I'm aFree fallin', now I'm a, free fallin'
Cheers,
Ayaskant.
Quote:
Originally posted by desi in ottawa
Quote:
Originally posted by tamilkuravan
This is what the indian finance minister had to say :
" No FII has been assessed as a trader as they are investors and this is a manufactured crisis based on uninformed reporting," he told reporters shortly after the stock market closed trading today after a fall of 826 points on reports of withdrawal by FIIs. "
Chidambaram can say what he wants (his party gets big time contribution/kickback from FIIs). Lots of FIIs are traders in the guise of investors. They have made their money and even a loss of a crore does not bother them. But loss of couple of lakhs to a small investor burts a lot.
DIO
-----------------------------------------------------------------
Success
To laugh often and much;
To win the respect of intelligent people and the affection of children;
To earn the appreciation of honest critics and endure the betrayal of false friends;
To appreciate beauty, to find the best in others;
To leave the world a bit better, whether by a healthy child, a garden patch or a redeemed social condition;
To know even one life has breathed easier because you have lived.
This is to have succeeded. Bessie Stanley
