Great Crash in Bombay Stock Exchange Sensex
MIL/rediff, Jan 21, 2008.
Mumbai, India: January 21, 2008 – A great crash in the Bombay Stock Exchange Sensex here today, it crashed by 2050 points, the largest fall in a single day and stumbled to a low of 16,963.96.
The NSE Nifty fell by 714.70 points to 4990.30 points, down almost 12.5%. Heavy selling by foreign institutional investors (FIIs) dampened the market sentiment.
The Sensex has been in the bear grip for the last five trading sessions with shares dipping to a two-month low.
On October 17, 2007, the Sensex plunged by 1,743 points. The Sensex hit a low of 17,307.90 points within minutes of opening, following which trading was suspended in the market for an hour.
The markets had crashed on the wake of Securities and Exchange Board of India's (Sebi) proposal to tighten the rules for purchase of shares and bonds in Indian companies through the participatory note (PN) route.
Biggest Falls:
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