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09 December 2023

Indian markets reopen after trading is halted because of steep declines

By Agencies


Indian shares were volatile after markets reopened Tuesday following a nearly hour-long shutdown triggered by steep plunges on the country’s two major indexes.


The benchmark index of the Bombay Stock Exchange, the Sensex, was down 1,347.39 points, or 7.7 percent, to 16,257.96 minutes after the market reopened. It momentarily recovered to being down as little as 3 per cent when the market first reopened, but quickly fell back.

Indian Finance Minister P. Chidambaram urged investors to remain calm, telling reporters “there is no reason at all to allow the worries of the Western world to overwhelm us.” (AP)