Wednesday, January 7, 2009

Market Plunges on Satyam’s Scandal, fraud uproots confidence

Extreme pessimism was witnessed in the markets today following the unraveling of scam at Satyam. Selling activity was witnessed across sectors. Stocks from the realty, IT, energy and banking spaces led the pack of losers, while stocks from the FMCG and auto sectors were the least hit. Rupee closed at 48.8 against the US dollar. The Asian markets ended on a mixed note today. European indices are currently trading weak.


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