http://www.bloomberg.com/apps/news?pid=10000080&sid=a6yqYi1pHMs4&refer=asia#
India's Stock Markets Resume Trading; Reliance, ITC Pace Slide May 22 (Bloomberg) -- Indian stocks resumed trading after a 10 percent plunge in the benchmark Sensitive index triggered a halt by the exchange. Markets recouped about half of the slide after the finance minister assured investors that banks would lend money to meet margin requirements. The Mumbai Stock Exchange's Sensitive index lost 540.56, or 4.9 percent, to 10,398.05 as of 1:01 p.m. local time. The index had fallen as much as 1111.70 points, sliding below 10,000 for the first time in three months. All 30 of the measure's stocks declined. ``The drop is overdone,'' said Viswanathan Vasudevan, who helps manage about $200 million at Aquarius Investment Advisors Pte. ``It should bottom out at this point and start rebounding.'' Reliance Industries Ltd., which owns the world's third- biggest refinery, dropped 48.55 rupees, or 5 percent, to 928. It earlier plunged as much as 17 percent. ITC Ltd., the country's biggest cigarette maker, fell 5.65 rupees, or 3.1 percent, to 175. It tumbled 16 percent earlier. The two stocks account for about a fifth of the index's weight. The Indian rupee extended losses from a five-month low, dropping as much as 0.5 percent, to 45.79 against the dollar. It has declined 2.5 percent in the past three months, making it the second-worst performer among currencies tracked by Bloomberg in the Asia-Pacific region. To contact the reporter on this story: Pooja Thakur in Mumbai at [EMAIL PROTECTED] Last Updated: May 22, 2006 03:49 EDT -- DIE DULCI FREURE, DEV BOREM KORUM. Gabe Menezes. London, England _____________________________________________ Do not post admin requests to the list. Goanet mailing list (Goanet@goanet.org)