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Markets crash with two IAF planes - Views on News from Equitymaster
 
 
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  • May 28, 1999

    Markets crash with two IAF planes

    The stock markets went on a downslide in late afternoon trading on hearing that two Indian fighter planes had been shot down by Pakistan.

    The 30-share Bombay Stock Exchange Sensex fell 2.78 per cent or 110.85 points in the last hour of trading to close at 3,862.45, after having ruled steady above the 4000 mark during the morning. The S&P CNX Nifty tumbled even more sharply to close at 1091 points, a fall of 44.05 points or 3.87 per cent from its previous close. In Mumbai, trading volumes were moderate with shares worth Rs. 14 bn traded on the BSE and shares worth Rs. 21 bn traded on the NSE. Foreign institutional investors also continue to be concerned about the situation and Indian Global Depository Receipts fell sharply by 10 to 12 per cent.

     

     

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