Sensex Takes a Beating Again

Tax and Bills go up the hill
To fetch oily water,
Rupee falls down and breaks its crown
Common man tumbling after.

On Friday night as teenybopper couples head to the nearest restaurants to exchange sweet nothings and kisses, a euphemistic Dara Singh delivered a massive punch to the Indian stock market.

Sensex fell by nearly 1,000 points to a three-year low in the opening session of trading registering a drop of 9%.

And it didn't do good for the Indian Rupee either, it fell to 49 against the US dollar. As a result the Reserve Bank of India has cut the cash reserve ratio for banks to 7.5% to help generate more cash in the banking system.

This has been one of the worst weeks for Indian investors as Indian shares fell by almost 50%. Earlier, National Stock Exchange’s Nifty was down 5.52 per cent too. BSE Midcap Index was down 6.76 per cent at 4361.48 and BSE Smallcap Index plunged 6.34 per cent to 5,118.91.

Have fun on your date tonight.