BSE sensex today

BSE sensex today

BSE Sensex to fall after U.S. bailout fails

Tue Sep 30, 2008 9:28am IST

NEW DELHI (Reuters) – The BSE Sensex is set to open sharply lower on Tuesday after U.S. lawmakers rejected a $700 billion

package to end financial panic, knocking down markets in Asia and on Wall Street.

Fear gripped markets as investors dumped emerging market assets, sought stability in government debt and confronted the

prospect that the crisis of confidence in the bank industry will persist, further damaging the global economy.

The U.S. S&P 500 index suffered its biggest fall since 1987 stock market crash and Asian bourses fell 4 to 7 percent.

The BSE Sensex should open 3 to 4 percent lower and trend downwards, traders said.

"There is a problem of liquidity. There's a feeling that stocks will go further down," said Ambareesh Baliga, vice president

at Karvy Stock Broking.

The 30-share main BSE index fell 3.87 percent on Monday to 12,595.75, its lowest close since July 16 and its second-lowest

finish this year, taking its losses in 2008 to almost 38 percent.

By 0324 GMT, Japan's Nikkei was down 4.6 percent touching a three-year trough, while MSCI's measure of other Asian stocks

fell 3.7 percent.

Nifty futures traded in Singapore were down 3.7 percent.
href="http://in.reuters.com/article/businessNews/idINIndia-35723020080930" target="_blank">Read more


Tags: nseindia, nse, bse sensex, moneycontrol, nse india