Tags:
Journalism of Courage
In the backdrop of the US financial crisis, the Indian equity market went deeper in red in September 2008. Indian market performed worse than the US markets and led to huge investor losses.
Rs 2,30,000 croreErosion in investor wealth due to the crisis in the US
Emerging markets, including India, lost more than the US markets
S&P CNX Nifty 10 per cent
S&P 500 9 per cent
Dow Jones 6 per cent
Emerging markets 18 per cent
The worst-hit
Index Decline
BSE Realty 32 per cent
BSE Metal 25 per cent
The outperformers
Index Decline
BSE FMGC 1.6 per cent
BSE oil and gas 7.6 per cent
Net sales by FIIs in September Rs 82 billion
Going forward, we expect the market to remain range-bound. Though developments in the US will be closely monitored, the focus would shift to domestic cues with the second quarter results most likely to dictate the course of the market in the coming month.
Chetan Majithia, head-equities, CRISIL Research
