pratikbharti
Pratik Bharti
The markets have crashed on the wake of Securities and Exchange Board of India's (Sebi) proposal to tighten the rules for purchase of shares and bonds in Indian companies through the participatory note (PN) route.
The Sensex has plunged by 1500 points to 17,500. The Nifty has crashed by 500 points.
The trading has been halted for an hour. The trading has been halted for the time since May 2004.
The Sebi move is aimed at arresting the surge in foreign inflows through PNs, which are offshore derivative instruments that allow foreign investors to invest indirectly in a the stock markets which has seen the BSE Sensex zoom more than 5,000 points in two months.
The Sensex has plunged by 1500 points to 17,500. The Nifty has crashed by 500 points.
The trading has been halted for an hour. The trading has been halted for the time since May 2004.
The Sebi move is aimed at arresting the surge in foreign inflows through PNs, which are offshore derivative instruments that allow foreign investors to invest indirectly in a the stock markets which has seen the BSE Sensex zoom more than 5,000 points in two months.