NSE crash erases Rs 10 lakh cr investor money... briefly
October 05, 2012 18:25
A flash 900-point crash in the National Stock Exchange's index Nifty this morning eroded an estimated Rs 10 lakh crore of investor wealth, though for a brief period.
The Nifty showed a sudden fall of nearly 900 points, or over 15 per cent within seconds, triggering the circuit filter (maximum permissible limit of movement in the index), halting the trade at 0950 hrs for 15 minutes.
During the period, the investor wealth slumped by nearly Rs 10 lakh crore. The Nifty finally closed the day at 5,746.95, down 40.65 points or 0.70 per cent, recovering most of the initial losses. On the other hand, the Sensex ended 119.69 points lower at 18,938.46.
The Nifty showed a sudden fall of nearly 900 points, or over 15 per cent within seconds, triggering the circuit filter (maximum permissible limit of movement in the index), halting the trade at 0950 hrs for 15 minutes.
During the period, the investor wealth slumped by nearly Rs 10 lakh crore. The Nifty finally closed the day at 5,746.95, down 40.65 points or 0.70 per cent, recovering most of the initial losses. On the other hand, the Sensex ended 119.69 points lower at 18,938.46.
TOP STORIES
© 2024 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Feedback - About us - Terms of use - Grievances