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Stockmarket analysts foresee Black Tuesday

Indian markets are in for yet another blow on Tuesday April 25 from the technology-laden NASDAQ which crashed on Monday after chances of a Microsoft split looked real, analysts in India said.

NASDAQ's Composite Index was down by over 215 points or 6 per cent.

The maximum damage to the Indian market could be eight per cent, thanks to the filters or circuit-breakers of the Securities and Exchange Board of India. Analysts feel the confidence level in the bourses may be completely shaken.

Although the carnage at NASDAQ began after close of the markets in India, investors in India had sensed the shape of things to come. India's premier stock market index, the Sensex of the Bombay Stock Exchange, was down by over 148 points or 3.17 per cent on April 24.

However, information technology experts argue that the situation in India should not be squarely compared with NASDAQ. They say that there are no dot-coms listed in India and the software companies here are on a solid footing, posting handsome results for the latest financial year.

UNI

Business