Oct 17, 2007

Sensex falls on October 17 2007

The Sensex opened up almost 1500 + points low since yesterday and continued to shed a few more points.. until SEBI decided to close the operations for atleast another hour... this was a precautionary action to avoid a huge fallout that could turn into mass disaster as far as share markets and prices are considered...

The SEBI is keeping an eye on the FII and the Withdrawals to make sure that no unprecidented action is happening....around 20 yrs ago in 1987 when a similar thing happened with a crash in DOW it bought around 1 trillion worth loss... with TCS and other IT giants recently declaring the profits of the quarter it was expected to be stable.... while the drop seems to bring the precaution to all to make sure that something wrong is coming up very soon

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