Indian stock market is in bear market as the Bombay stock exchange's sensitive index is down by 21.59 per cent. Stocks are said to be in bear market if the sensitive index is down by 20 per cent. On Thursday, Sensex closed at 16,467.79 making it to fall by 2.2 per cent.
Mr Sanjiv Zarbade, the vice president in the equity research team at the Mumbai brokerage firm Kotak secruties ltd believes that the all the gains of the investors were wiped due to the fall in sensex.
Many information technology companies procured big losses as the Bombay stock exchange's information technology index fell down to 4 per cent.
Because of the global economic slowdown the Indian stock markets have been hammered which could faultily affect India.