The Indian Sensex fell below 12,000 mark, thus nullifying gains obtained when it reached an all time high of 21,000 in January 2008. The fall is bound to happen, and the government is entirely responsible for the stock market debacle. It failed to control the inflation, failed to control the real estate market, failed to control money market. The finance minister was categorical when the stocks reached all time highs that the market deserves it, adding fuel to fire!
According to experts, it might take anytime between 5 to 10 years before the stock market stabilizes, and returns to its glory.
See our previous threads on this topic:
http://anandsoft.blogspot.com/2006/02/india-bse-sensex-crosses-10000-mark.html
http://anandsoft.blogspot.com/2006_02_01_archive.html
http://anandsoft.blogspot.com/2008/03/stock-market-meltdown-and-us-economic.html
http://anandsoft.blogspot.com/2007_04_01_archive.html