02:43 PM 28/10/2008
When trading opens for 'muhurat' for one hour from 6.15 pm on Tuesday, the mood is at a record low, with the Sensex having crashed 33% in October alone.
Compare that to the 15% gain in the Sensex in one month of build-up to Diwali last year to get a sense of how low the confidence of the investor this time is in Goddess Laxmi on the day of her puja and to mark the beginning of a new Samvat year.
Mumbai, Oct 28: The Sensex broke another psychological mark of 8,000 on Monday, Oct 27 while the Nifty slipped below the 2,300 level as well on weak global cues and intense unwinding by foreign institutional investors.
Asian markets are also trading deep in the red. The market is expecting some Policy action from the government to calm investor sentiment, but has not been forthcoming. The Sensex lost 971 points and is trading at 7,729. The Nifty fell 320 points to 2,264 at 1:15 pm. The Sensex has fallen 62 per cent in 198 days.
12:57 PM 28/10/2008