Blog of Parag

Indian stock market crash

Sonia Gandhi faces crisis, stocks crash

This happened even before they leftists squeezed Congress to make any policy decisions. That day is not too far away in the future. Communists have decided not to join the government but, to support from outside. It is a nice way to get your policies implemented without bearing any responsibility for the consequences.

If I had any money in the Indian stock market, I would cash out right now to prevent any more losses.

Shares on the Bombay bourse plunged as much as 17.5 percent -- the worst fall in its 129 years. Trading was halted twice, for a total of three hours, before the index closed 11 percent down, extending big losses last week. The rupee and bonds also fell.

The crash, including a big drop on Friday, has wiped tens of billions of dollars off the value of listed companies. Hundreds of brokers and small investors protested outside the bourse on the day Gandhi was due to visit the president to claim power.

Leftist parties, which hold more than 60 of the new parliament's 545 seats, decided not to formally join Gandhi's Congress party and its allies in the coalition expected to be sworn in on Wednesday.