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Monday, May 22, 2006

BSE Tumbles

Trading was halted on the BSE and NSE as shares fell more than 10% hitting the lower circuit* for the first time since May 17, 2004.

The BSE Sensex fell 1111.70 points to 9826.91 this morning prompting the stock exchange to halt trading for an hour until 12:55 this afternoon.

- BSE: 9826.91 (-1111.70) at 11:55am IST.
- NSE: 2901 (-345.90) at 11:55am IST.

Follow the ebbs and flows of the BSE.

* When a stock touches the lower circuit in a sharp downtrend, there may not be buyers at that cut-off price, as they believe the stock is headed still lower.

Let's see what happens when trading resumes in a few minutes from now.

Oh how seamless seemed love and then came trouble.

Update: 1:30pm IST.
BSE recovers 500 points.

Update 2: 5:00pm IST.
Sensex recovers to close at 10,481.77—a fall of 456.84 points.