For the fifth consecutive day the markets around the globe tumbled down and resulting in sensex breaches.Initially it was European markets felt the heat.The European markets from the start of the day’s sensex went down rapidly.The UK Prime Minister Gordon Brown announced the bailout plan for the UK for $122 billion dollar.After this announcement of bailout, the markets had a slow recovery from its downfall.
The European markets down, made a very big impact on the Indian Markets resulting in a very low mark in sensex points with 11,000 mark at the end of the day. The BSE went down 521 points and the nifty with 2% depletion.The Finance Minister of India reassured that there is no need to panic and said that, RBI is closely monitoring the liquidity.
The banks in Europe are in great trouble as the banks in US.But the United Kingdom said that they are not going to buy any bad assets as United States did.The hypo real estate in Germany has announced its downfall and there is also a bailout plan in germany to protect their banks from crisis.
Today because of this market crash in Asia, Japan really hit badly.The Japanese markets went a 20 year low and the Nikkel has lost nearly 9.3% of its stock.The sensex points all over the world plunges down and dont know when it is going to have an end.
The rupee mark has gone down all the way to Rs 48 against a dollar.In India the stock markets were badly affected and the shares of Real estate,IT compnaies and major banks were gone down.It has been said that ICICI may announce its bankruptancy in near future.But the ICICI Officials denied this and said that these are all rumours.Keep in mind that rumours might come true some day.Hope nothing goes wrong from here.
I wish the markets to have a speedy recovery..