1. Titles as appeared as headlines in one of the leading Indian news papers are: Sensex caught in US tailspin; Global Meltdown, and Global warming in the financial market intensify the slide on Indian bourses. The Bombay Stock Exchange sensex fell through 951 points to close at 14,805, a level where it was a year ago. The fall is largely on account of global cues, from US subprime crisis to rise in oil process. Realty, Banking and IT companies are the worst hit.
2. Only 31 out of the 113 new issues (IPOs) of 2007 are trading at levels higher than the issue price.
3. Gold and oil prices hit record levels as investors abandon stock markets and head for investment in gold and commodities. Gold is at 13,495 rupees per 10 grams and silver is 25,650 rupees per kg.
4. The Federal Reserve is urgently moving to contain a deepening credit crisis and restore confidence in financial markets.
5. US recession will impact Indian jobs, particularly in the IT sector.
6. GM looks to roll out $3.5K mini car in India. The car will be cheaper than Maruti 800 and dearer than Tata Nano.
7. RBI may raise interest rates again in April to contain inflation.
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