Mumbai faced the most brutal terrorist attacks of the recent times yesterday on 26th Nov 2008. It all started on Nov 26th at 9.30 PM in the heart of the financial capital of India. Taj Mahal Hotel,Hotel Trident,Nariman House were among some of the most affected areas in the blast. Till the reports came nearly 100 people have been declared dead already which include some of top most police officials.
It did send shock waves down the spine of all the Indians when the heard about the blasts in Mumbai.Many foreigners are said to be affected and about 6 have lost their lives till now. Some people and tourists were also taken hostage in Hotel Taj which was the center of the attack. Even till late evening some encounters are said to be on.

Reacting to this SEBI had already declared that no share market trading would occur in BSE,NSE,NCDEX so as to avoid further casualty and crisis in the markets as the sentiments are really very very down now. It will surely send negative signals to the FIIs who are already trying to exit Indian markets.

The Indian share markets have already lost nearly 55% from the year’s high and saw lows of 7600 on Sensex. India is the Asia’s fourth worst performer currently which saw a outflow of $13.5 Billion in the FII money.Meanwhile the situation seems to be worsening day by day. FED managed to bailout CITI Group for $20 Billion. But the question remains how long this bailout is going to be effective.

The next inline is Bank Of America(BOA) which also has a lot of bad debts and is facing tough times along with all other major banks. The US markets rallied yesterday and Dow touched 8,726 levels with a gain of 2.91% and Nasdaq was up by 4.60%. The other Asian markets like Nikkei-225 closed marginally up today gaining 1.95%. Sensex also gained 331 points to close at 9026 levels and Nifty closed at 2752 levels in the last trading session. The markets will reopen tomorrow.Lets hops its a positive opening in the Indian share markets.
 

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