01 Aug 07 Indian Stock Markets Crash : SENSEX and NIFTY tumble
Today, August 01, 2007 will be remembered by most investors investing in the stock markets in India, for a long time,  as the day on which the leading indices, SENSEX and NIFTY recorded their third largest intraday fall in the history of the Indian stock markets. Today, the Sensex crashed by about 616 points. In terms of number of points, today’s stock market crash will fall third in the list of the biggest single day falls in the history of the Indian stock markets, falling just behind the fall of 826 points on 18 May 2006 and the 617 point (missed by 1 point) fall on April 02, 2007. The crash was broadbased involving almost all the sectors. ICICI Bank fell below the IPO issue price of Rs. 890 (for retail investors). However it ended the day at Rs. 891 just above the IPO issue price. L&T and BHEL, which were having a dream run till now, also fell by about 4% each. Nice opportunity to start acumulating quality stocks?
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