Sensex closes 371 points down - Global Market hits bottom
August 5, 2011 7:30am CST
The Sensex hit a new 2011 low, but recovered to close 371 points lower at 17,321. The Nifty closed at 5,224, down 108 points. Some 13.92 billion shares changed hands on the New York Stock Exchange, NYSE Amex and Nasdaq, the highest since June 25, 2010, and well above the daily average of around 7.48 billion. Tokyo shares plunged 4.09 per cent in early trade today, following a sharp selloff on US and European markets amid worries over the American economy and the European debt crisis. The Nikkei index at the Tokyo Stock Exchange dropped 395.09 points in eight minutes to stand at 9,264.09, before the initial sharp plunge stopped. The broader Topix index of all first section shares traded 3.50 per cent or 28.93 points lower at 797.43, off the earlier low of 794.16. All Global Markets are down
6 Aug 11
ITs quite a shocked hearing that BSE sensex has came down to 371 points. Experts say we need not panic its indeed a good time to invest for long term goals, and for people who have invested in the market they should stick on the investments and need not worry about their money, such crasesh happens in the equity market. In the year 2008 there was major fall in the sensex coming to around 14,000 but still it gained imagine, the people who invested at that time they must have made lot of money by now, so as a suggestion, i think we should just give stock market some time to heal. So lets see and hope for the best.
• United States
5 Aug 11
I was just reading about this in Realist news. I couldn't believe it, we are getting closer and closer to a stock market crash here in The US. the last time it dropped this many days in a row was back in 2008 when the stock market crashed, 2 more days and we will see what happens. Makes me wonder what will happen this time around, I am sure it will cause more devastation now then before.
5 Aug 11
Hi, Very sad to know that the markets are running in the down trend. The cause being US as they are now on the verge of falling down as they are fighting hard to come out of the financial crisis. People have no idea if these markets are really going to recover or fall to a new levels in this year. It has been pretty good and everything seems to be fine after recession has played a spoilsport in 2008. When everybody thought its gone and we are in a safe heaven, then came a news from the Us that is shaking the world markets and have been tumbling since then. We need to wait and see if there is a resistance in the market and will climb up to new heights after this debacle.