With L& T announcing losses to the tune of 92 crores, the scrip has come down to 2721, from 4200 !
All countries fear a recession in the US. The Sensex is at a low ebb. Talks about India and China being insulated are being eroded.
on the positive side, Forex reserves have crossed $300 billion.
The negative news that US had lost 63000 jobs cast its shadow on the market. The fears in all countries that US is moving towards a recessionary phase took its toll on the bourses.
Realtex is down by 20% and Bankex by 17%.
The Dow is well below 12 K. The Dow has come down by 3% last week. The Sensex lost 1603 points, Hang Seng 1830 points and Nikkei 820 points.
2008 will be a year of Recession. So exercise prudence and restraint while investing !
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