may-mayhem-melts-indias-markets

May mayhem melts India's markets

India's equity markets lose more than 20% over one week of trading and end Monday marginally up. However, investor confidence may still be down.
IndiaÆs stock markets witnessed a bloodbath last week - with the Sensex crashing from a high of 12,671 on May 11 to touch a low of 9,827 on May 22 in a scant 8 trading sessions. Stock exchanges suspended trading for one hour between noon and one oÆclock yesterday after the market shed more than 10% in the morning.

IndiaÆs stock markets have risen sharply from just under 10,000 at the beginning of the year to cross 12,500. Bears had long uttered words of caution about how fast the Sensex had added the last 2,500 points versus earlier gains. Indeed, in its June editorial page comment FinanceAsia magazine observed that a correction was clearly...
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