Indian stock markets drop again Indian share prices have fallen by 4% in the wake of steep declines in other Asian markets.
The benchmark Bombay Stock Exchange Sensex fell by more than 400 points to 9,397.93, the lowest since January. Indian shares have fallen by more than 25% over the past month after hitting a record high of 12,612 points. Shares across Asian markets have fallen as ongoing fears about interest rate rises in the US continue to hit the global markets. Shares on the National Stock Exchange also tumbled, with the 50-company S&P Nifty index down 3.4% to 2,765 points. The falling share prices have led to heavy selling by mutual funds and retail investors. Opportunity Many middle-class Indians have made money on the stock markets over the past few years, but analysts say the era of making quick gains is over. However, they stress that the markets still present an opportunity for long-term investors. Kevin Grice, an emerging markets specialist at American Express bank, believes the share prices on India's markets have fallen to reasonable levels. "India is looking very attractive... The Sensex in this kind of area is now a buying opportunity," he told the Associated Press news agency. Story from BBC NEWS: http://news.bbc.co.uk/go/pr/fr/-/1/hi/world/south_asia/5058102.stm Published: 2006/06/08 07:03:28 GMT (c) BBC MMVI -- DIE DULCI FREURE, DEV BOREM KORUM. Gabe Menezes. London, England _____________________________________________ Do not post admin requests to the list. Goanet mailing list (Goanet@goanet.org)