labels: investment - general
Bloodbath on Dalal Streetnews
14 September 2001

Mumbai: Three days after the devastating attack in the US, the Sensex, too, has also been attacked, in the latters case by FIIs. The benchmark 30-share BSE plummeted to an almost three-year low to 2830.12, down a hefty 157.38 points from Thursdays close of 2987.5.

The Black Fridays fall is one of the largest single-day fall since the rolling system was introduced in July last. With Fridays fall, the Sensex has tumbled 320 points (11 per cent) after the attack in America.

Technology majors like Satyam Computer, Infosys and NIIT plummeted into a deep abyss.

The rupee, in the meantime, too suffered. It ended with another record low, sliding to close at 47.8100/8300 per dollar on the back of extremely strong and persistent demand for the American currency.

Also, State Bank of India has pumped in a huge amount of liquidity to ease the situation in the call money market. This move is after the rates touching an intra-day high of 8.50 per cent on Tuesday.

Watch this space for the next developments.

 


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Bloodbath on Dalal Street