Sensex(India) plunges

Posted by Bhumika Ghimire May 20, 2006

According to United Press International, "India is reeling from the largest ever free-fall of Mumbai's Sensex, apparently triggered by reports some foreign investors may be taxed on their stocks.

Mounting fears among investors prompted Finance Minister P. Chidambaram to step in and announce that the draft was merely a discussion paper, but Mumbai's stock market continued to plummet all day. "( 19 May, 2006)

The Sensex has lost 1300 points, and the critics say that this state of panic and the tax policy will scare off foreign investors.

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