All 30 stocks on the Bombay Stock Exchange's Sensex Sensitive Index declined, extending the gauge's losses to 17.4 percent from a Jan. 10 high. Reliance Industries Ltd., the nation's most valuable company, led the retreat.
"It is retail investor panic that is setting in,'' said T.S. Harihar, vice president for equity derivatives at Karvy Stock Broking Ltd. "Nobody is comfortable after such a huge correction from the peak. It started off with recession fears in the U.S. and then consistent selling by foreign investors.''
The Sensex dropped 1,490.60 points, or 7.8 percent, to 17,523.10 as of 2:36 p.m. local time, after plunging as much as 8.9 percent.
The majority of experts in the field of armaments admit that made-in-Russia weapons can be referred to as best weapons in the world. To substantiate this point, suffice it to recall that many countries make their own ripoffs of world-famous Russian weapons.