Markets crashed due to domestic worries; bluechip stocks tanked too.
BHEL, YES Bank, RCom, Titan Ind, JP Associates, BF Utilities, Ruchi Soya and Punj Lloyd have tanked more than 10% each on BSE.
Political uncertainty coupled with the absence of buying support and increased selling from foreign institutional investors and local operators pushed the benchmark CSE-40 index down by 8.98 per cent at Calcutta Stock Exchange on Monday.
India Inc on Monday expressed optimism that the Congress-led government at the Centre would carry forward the reforms, and the stock market crash was a result of "complete nervousness" among investors, which would recede after the Common Minimum Prog
Drama, drama and more drama. This is how one would sum up the action on the stock markets during the last one-month.
The government on Monday said that the capital market regulator, the Securities and Exchange Board of India, is enquiring the sharp fall in share prices a week ago that had wiped off more than Rs 100,000 crore (Rs 1 trillion) of shareholders' wealth.
The Securities and Exchange Board of India on Tuesday asserted that the Indian financial markets were safe for investing and there was no payment crisis on the bourses.
Gold prices rose on the bullion market in New Delhi on Monday on emergence of buying by investors amid purchasing by stockists, as funds got diverted from falling equity markets.
The stock markets on Monday crashed, witnessing a historic fall of 16 per cent in a day triggered by uncertainty over economic reforms and policies of the new government at the Centre.
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