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Indian markets close Tuesday in red; Global and Political factors spoil play

August 21st, 2007

Its blood bath yet another day. The Indian markets have taken it a bit more of it compared to other Asian markets. Of course, Asian markets saw huge sell off’s post mid-day when the story of a German bank exposure to sub-prime has come out. Of course, the story at home has another twist to it. Political news of possible mid-term poll, indifference on nuclear deal etc. are hitting the market sentiments.

On important thing today is that the 14000 mark has been hit on the Sensex - a critical level being hit would bring in panic.

Its roller coaster ride towards the downwards on the markets. Nifty closed at 4074.9 losing a bit over 3%. Almost all Nift indices are hit by 3 - 4% today. Same is the case with BSE too. BSE Sensex lost 438.44 points to close at 13989.11. Midcap and Smallcap indices are down over 3%. Bankex and Realty sectoral indices are down over 4.4%.

Its Tuesday Morning for the US. Dow Jones and NASDAQ are marginally in the green. Is this a sign of being positive? In such a case, one thing will be clear - Indian markets are increasingly becoming more reactive to international news these days.

Entry Filed under: Equity Markets