Market melt-down
October 6th, 2008
Indian markets faced a severe selling pressure on the news that some of the European banks are also facing problems similar to US banks and seeking heavy bailout packages from respective governments has led Indian markets to see new lows since march 2007.
Metal stocks and Real Estate are the ones which are facing heavy selling pressure, highly leveraged stocks such as Aban Lloyd, DLF, Unitech, private banking major ICICI bank saw heavy cuts in today’s trade.
As per the traders, market is expected to see four digit tick on sensex in next few days.