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The India Money Market Fall Since September 2008
By Sourav Sharma
India market news is the topic of discussion for every investor nationwide. The global economic downturn since the last quarter of 2008 has been gaining grounds until the Satyam scam. The fourth-biggest software firm -- Satyam Computers, ever since its drastic crash and financial wrongdoing revelations, has been in India news and global news headlines affecting the India market. India has many foreign investors and the economy not being very highly affected despite the global recession, more foreign investors are looking towards India as a safe and secured investment destination. But as India market news make plain, the Satyam scandal may prove to be a huge loss to India, prompting foreign investors to leave India.
Strengthening of the Indian rupee and loss of dollar over the last week of December 08 and first week of January brought in a ray of hope amongst investors, thus raising the importance of India market. Data released by the India news recorded buying of local shares by overseas funds. India market news further
brought to light that with the Satyam scam, stock market indices witnessed a 7.1 percent slump. Despite the two weeks' rise of the rupee, it again slumped down due to the Satyam effect.
India market is flooded with news like 'NSE removing Satyam from Nifty, replacing the position with Rel Capital', 'Satyam losing Rs 10, 000 crore in market cap', etc. The India market news on 7th evening shook domestic as well as global investor confidence affecting many other top companies. Overall, the situation is expected to improve and India market is again going to witness a rise. Thanks to the corrective measures taken by the RBI as well as the government. With the lending rate cut by 350 basis points by the the RBI as well as the 200 billion rupee ($4 billion) stimulus package announced by the government will help materialize the 7% growth target. Duties cut on manufactured products further add to the boost. What the India news reveals currently is not expected to be the same. The scenario is certainly going to improve!
Sourav Sharma is freelance market analyst and is writing reviews articles on india business news, india economy news, stock exchange news and information on BSE Sensex Index.
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