Economy

xchrom

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50. south asia: RBI saves Indian stock market's trillion-dollar tag, for now

Fri Dec 16, 2011, 09:58 AM

Dec 2011

http://economictimes.indiatimes.com/markets/stocks/market-news/rbi-saves-indian-stock-markets-trillion-dollar-tag-for-now/articleshow/11133900.cms

NEW DELHI: Reserve Bank's policy action may have failed in containing the Sensex slide to a two-year low, but its intervention in rupee movement has helped Indian stock market retain its trillion-dollar tag, at least for now.

The market went into a tailspin today, as the central bank's decision to keep the interest rates unchanged did not help the sagging investor sentiments, and the barometer Sensex declined to its lowest level since November 3, 2009.

In the process, the value of Indian stock market, measured in terms of the collective value of all listed shares, fell to Rs 54,11,301.50 crore -- which is just over USD one-trillion dollar level at current currency rates.

In the US dollar terms, the Indian market would have lost its trillion-dollar valuation tag, if the rupee had managed to at least hold onto the record sub-54 level, it hit yesterday.

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STOCK MARKET WATCH, Friday, December 16, 2011 [View all] Hugin Dec 2011 OP

Okay, here's the downside of me doing this. Hugin Dec 2011 #1

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south asia: RBI saves Indian stock market's trillion-dollar tag, for now xchrom Dec 2011 #50

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