Mumbai, May 19
Stock markets continued to bleed for the second successive day today, losing another 452 points on top of yesterday’s mayhem as investors lost at least Rs 300,000 crore due to panic selling since Thursday.
After a plunge of 826 points, the biggest fall in the
history of the market on Thursday, the market closed the day lower with Sensex shedding about 1,300 points (11 per cent) in two days, virtually showing no positive effect in the wake of Finance Minister P. Chidambaram’s clarification on taxing FIIs.
The situation was further compounded by the demand for long- term capital gains raised by ruling UPA’s ally, CPM.
—PTI
