10-07-2008, 02:04 AM
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Sensex bleeds 725 points </b>
Pioneer.com
Rakesh Bihari Jha | New Delhi
In the wake of exodus of foreign funds and subsequent crashing of the Indian stock market, the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) are taking corrective measures to provide liquidity in the financial system.
While the RBI slashed the cash reserve ratio<b> (CRR) by 50 basis points to 8.5 per cent for providing the Indian banking system with Rs 20,000 crore</b>, SEBI lifted curbs on the issuance of the Participatory Notes by Foreign Institutional Investors (FIIs) to revive the markets.
<b>It was Monday mayhem on Dalal Street as Sensex crashed down by 725 points even as $2 trillion global financial bailout package failed to instill confidence in investors all over the world. </b>India was no exception.
<b>Sensex, which had lost 529.35 points in the previous session</b>, plunged by <b>another 724.62 to close at a two-year low of 11,801.70, while Nifty dropped by 215.95 points, at 3,602.35 </b>after the FIIs indulged in all-round selling in heavyweight stocks of consumer durables, metals, capital goods and realty sectors. They invested in shares worth Rs 2,051.23 crore and shed stocks valued at Rs 3,220.56 crore, resulting in a net sale of Rs 1,169.33 crore as per provisional data available on the BSE.
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Pioneer.com
Rakesh Bihari Jha | New Delhi
In the wake of exodus of foreign funds and subsequent crashing of the Indian stock market, the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) are taking corrective measures to provide liquidity in the financial system.
While the RBI slashed the cash reserve ratio<b> (CRR) by 50 basis points to 8.5 per cent for providing the Indian banking system with Rs 20,000 crore</b>, SEBI lifted curbs on the issuance of the Participatory Notes by Foreign Institutional Investors (FIIs) to revive the markets.
<b>It was Monday mayhem on Dalal Street as Sensex crashed down by 725 points even as $2 trillion global financial bailout package failed to instill confidence in investors all over the world. </b>India was no exception.
<b>Sensex, which had lost 529.35 points in the previous session</b>, plunged by <b>another 724.62 to close at a two-year low of 11,801.70, while Nifty dropped by 215.95 points, at 3,602.35 </b>after the FIIs indulged in all-round selling in heavyweight stocks of consumer durables, metals, capital goods and realty sectors. They invested in shares worth Rs 2,051.23 crore and shed stocks valued at Rs 3,220.56 crore, resulting in a net sale of Rs 1,169.33 crore as per provisional data available on the BSE.
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