Pre-Market: Indian Markets all set for blood bath

The Indian Stock Markets which would open for trading today - Thursday, August 16, 2007 after the National Holiday on August 15, 2007 due to Independence Day is all set for a crash landing today after 2 days of hammering in the US and World Markets.

The Dow Jones Index has gone below the 13000 mark after April 24, 2007 and the S&P Index in the US has wiped out its YTD (Year To Date) gains.

The Asian Markets are deep in Red with KOSPI down by 7%, Nikkei down by 2.5%. Hangseng is trading down 655.39 points. The STI index down by nearly 115 points during the day's trading.

All Indian ADRs are deep in Red. ICICI Bank closed at $39.44, HDFC Bank $79.56, Infosys $46.68, Satyam closed at $25.03, WIPRO closed at $13.53.

The Indian Markets closed marginally down on Tuesday's trading with BSE Sensex closing at 1500.91, down by 16.3 points and NSE NIFTY closed at 4370.2, down by 3.45 points. All indicators point to a big gap down opending for the Indian Markets.

Source : Equity Bulls

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