Source Pravda.Ru

Indian benchmark index falls, as US economy goes into recession

By Margarita Snegireva. Indian benchmark index is on course for its steepest plunge in almost four years, on concern the U.S. will enter a recession and slow global growth.

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.

Comments
Russian Guard to see enemies behind walls
What will happen if USA freezes Russian dollar assets?
Ukraine suspicious about Russia's intention to give away rusty ships to Kiev
Russian Armed Forces to receive second-to-none gliding bomb
Euro-Islam: New religion to break migrants in EU
Euro-Islam: New religion to break migrants in EU
Euro-Islam: New religion to break migrants in EU
Euro-Islam: New religion to break migrants in EU
Turkey distances itself from Russia to plunge Syria into greater chaos
Terrorists work on another 9/11 for USA
USA will seize Kuril Islands immediately if Russia delivers them to Japan
Russia to impose sanctions on WADA for Winter Olympics 2018
Russia to impose sanctions on WADA for Winter Olympics 2018
Turkey distances itself from Russia to plunge Syria into greater chaos
Turkey distances itself from Russia to plunge Syria into greater chaos
Turkey distances itself from Russia to plunge Syria into greater chaos
Russian woman killed when hanging out naked of moving car in Dominican Republic
Some A**hole should shut his cakehole
Russia to impose sanctions on WADA for Winter Olympics 2018
German experts name Russia's most dangerous weapon
German experts name Russia's most dangerous weapon