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Sensex Fell by 2.92%

With President Barack Obama placing trading and investment curbs on US banks, the banks downsized their lending portfolios and asked hedge funds to return their money. Hedge funds in turn unwinded in the overseas markets.

Oct 23, 2010 17:22 IST
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With President Barack Obama placing trading and investment curbs on US banks, the banks downsized their lending portfolios and asked hedge funds to return their money. Hedge funds in turn unwinded in the overseas markets. This directly effected the Indian Market. The equity market was pulled down for the sixth consecutive trading day on 27 Jan 2010 due to uncertainities on the global and domestic fronts. The 30-stock Sensex closed at 16289 falling by 2.92 per cent. It fell by 1423 points in the period between 21 Jan to 27 Jan 2010.