Sensex closes below the 9,000 mark

Reuters
Posted: Wednesday, Nov 19, 2008 at 1557 hrs IST
Updated: Wednesday, Nov 19, 2008 at 1557 hrs IST

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Sensex sheds early gains as RIL tumbles Sensex closes below 17,000 level Sensex nosedives by over 200 pts Sensex closes down 103 points

Mumbai, November 19:: The BSE Sensex shed sharp early gains and provisionally fell 2.3 per cent on Wednesday, taking cues from weak overseas markets where concerns over the global economic slowdown continued ahead of key US consumer data.

The benchmark 30-share BSE index provisionally closed 207.26 points lower at 8,729.94 points.

The 50-share NSE index shed 1.79 per cent to 2,635.

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» GDP is divine - it has to be resurrected.

Posted by Fareeda Rehman on 2008-11-19 14:08:54.88144+05:30
These indicators will fail to generate any sense. Its a buy-in-morning-sell-at-noon syndrome of the bull-bear combined trader. Its a pity for the entire nation that we have some of the most miserable people at the helm of the affairs who are carrying with their dogmatic dreams. That the tailspin cannot be controlled is now fairly known. The corporates have pressed the panic buttons - the retrenched staff are bearing the pain and humiliation - their families are now in pathetic turmoil. Crucial public funds are wasted - in down-the-drain liquidity process - to resurrect GDP. FM and PM, both think more on "divine resurrection" of GDP, rather than "human resurrection" from this crisis. They feel as if their lives are fulfilled if they participate in this "divine resurrection". Somebody near them has to really shout at their ears - lifting the turban from PM's head, if need be - and tell them politely that the country is headed towards an absolute bust on all fronts - it will be the failure signal for almost all known institutions - and that hardly any assets are safe - repeat - hardly any assets are safe. And then leave them. If they still are crazy about "divine rights", the people are to blame - for having chosen such economists in the first place, thinking them to be wizards.

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