The Hindu Business Line : Media waits another day for Sensex to touch 10 K

The cell phones of brokers and financial analysts did not stop ringing... from the other end were requests to come down from their office before the cameras - stringent security in the complex does not allow TV cameras inside the building without prior permission.

An analyst said, "There was hectic frenzy, as at one point the Sensex touched 9,993, a tantalising seven points short. When somebody asked me to give my comments on the historic moment...the journalist had decided that 10 K would indeed be breached today...I told him to first go out and interview a few investors on what they felt."

The feedback he got from the journalist was not encouraging. Apparently one investor said that the value of his stocks today is the same as when the Sensex was at 7,000. So he had nothing to celebrate. Another turned around and said: "After all, 10,000 is only a number. I'm not going to buy or sell just because the index has touched this mark."

And then, without warning came the crash. All of a sudden the indices headed southward, and in no time what had looked like an 80-point rally turned into a nearly 100-point loss. But a few minutes before close, the market recovered a bit and the final tally was 60 points in the red for the Sensex.

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