Stock markets closed for an hour after huge jump
May 18th, 2009 - 11:42 am ICT by IANS
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Mumbai, May 18 (IANS) Stocks jumped up by such an extent as soon as Indian equities markets opened Monday morning that trading had to be halted for an hour, as the rally had hit the “upper circuit breaker”.
Within 15 minutes of opening, the benchmark index of the Bombay Stock Exchange (BSE), the Sensex, rose by 305.97 points to 13,479.39. The jump, triggered by Saturday’s victory of the United Progressive Alliance in the general elections, breached the “circuit breaker” kept to ensure the market doesn’t move up and down too quickly and too much, according to the BSE website.
The Nifty index of the National Stock Exchange also hit the “circuit breaker” after rising 531.65 points to 4,203.30 within 15 minutes of opening.
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