12-12-2006, 11:46 PM
Bloodbath on Dalal Street
<b>It's Rs 250,000 cr loss in 3 days </b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Mumbai, December 12: The stock markets crashed for the second consecutive day on panic-selling by investors, plunging the <b>Sensex below 13,000-mark on a 400 point loss triggered by sluggish growth in industrial production</b>.
There was a virtual bloodbath on the back of Monday's crash due to RBI's decision to hike cash reserve ratio for banks, which wiped off about Rs 250,000 crore of investors' wealth in the last three trading sessions.
In erratic behaviour right from the morning,<b> the Sensex fluctuated and fell 600 points in intra-day trading </b>with heavyweights such as BHEL leading the slide after the government released the industrial output figures. <b>It later recovered to close at 12,995.02, a net fall of 404.41 points</b>.
Industrial production grew by 6.2 per cent in October, the lowest this fiscal, on account of a slowdown in manufacturing sector, especially consumer and capital goods
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Third incidence since this government came into power. Either some bad intentions or UPA unable to control such fall.
<b>It's Rs 250,000 cr loss in 3 days </b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Mumbai, December 12: The stock markets crashed for the second consecutive day on panic-selling by investors, plunging the <b>Sensex below 13,000-mark on a 400 point loss triggered by sluggish growth in industrial production</b>.
There was a virtual bloodbath on the back of Monday's crash due to RBI's decision to hike cash reserve ratio for banks, which wiped off about Rs 250,000 crore of investors' wealth in the last three trading sessions.
In erratic behaviour right from the morning,<b> the Sensex fluctuated and fell 600 points in intra-day trading </b>with heavyweights such as BHEL leading the slide after the government released the industrial output figures. <b>It later recovered to close at 12,995.02, a net fall of 404.41 points</b>.
Industrial production grew by 6.2 per cent in October, the lowest this fiscal, on account of a slowdown in manufacturing sector, especially consumer and capital goods
<!--QuoteEnd--><!--QuoteEEnd-->
Third incidence since this government came into power. Either some bad intentions or UPA unable to control such fall.