By KUNA
New Delhi : Trading was stopped at the Indian stock markets Tuesday for a brief period following sharp decline of over 10 per cent in initial trading.
Even after reopening, Indias key Bombay Stock Exchange (BSE) registered a loss of 1,285.95 points, down 7.3 per cent over Monday’s close, news agency Indo Asian News Service reported from Mumbai, Indias financial capital.
The 30-share sensitive index or Sensex of the BSE opened at 16,884.09 points this morning and touched 15,576.30 points in initial trading, leading to an automatic halt in trading, the news agency said. The Nifty index of Indias National Stock Exchange also declined by 60.45 points and registered 4,578.35 points today, the news agency said.
The Sensex had lost over 2,000 points in intra-day trade Monday.
Meanwhile, talking to reporters here today, Indian Finance Minister P Chidambaram appealed investors to stay calm. “Enough liquidity will be provided to brokers and market players. Liquidity will not be an issue,” Chidambaram said, adding “Worries of western world should not be allowed to overwhelm us… Our economy is very different from some economies of developed countries.” “The Indian economy will grow at nine per cent this year,” the Finance Minister said, adding, “Fundamentals of the economy are very sound. Corporate profits are high and corporate income tax is at an all-time high.”