Board’s draft circulars responsible for stock market crash?
The overheated Indian Stock Market was waiting for a reason to fall. An expert predicted that the left landslide win in West Bengal and fairly good victory in Kerala would cause the market to go south. But every opinion poll predicted the left victory and certainly the stocks would not have gone up if Mamta Banerjee and Karunakaran formed governments! But the stock markets were waiting for an opportunity to fall. And the analysts found the draft circulars of the Board a good enough peg to hang the blame on to. As usual TIOL was the first to carry the draft circulars and of course within hours the rest of the world simply borrowed from us and they say the stock market crashed. Later in the day we hope bring an exclusive analysis from an expert on the issue.