The market opened after a 7 day close and lasted just 69 seconds before hitting the fist circuit breaker overshooting the 5% limit drop on S&P index and recording 6.8% drop at the first halt and after reopening trading at 11.01 am lasted only another 50 seconds to close for the rest of the day as the market overshot the second circuit breaker set at 7.5% by overshooting it to record a massive 12.64% drop in a mare 265 million turnover with a share volume of 30 million shares changing hands. The fear factor amongst the nervous investers and smart action by the professional regulator seems to have got it all wrong and now some of the slaughter victims have given up the idea of recovering or adjusting their margins and simply calling off any new funds into the market as the irrational behavior and the arrogant decisions by some officials have permanently driven them away from even looking at the market for a long time . What we are seeing today is a total collapse of prices and with the former PM talking of avoiding a Banking sector collapse is spooking all types of investors in many sectors and good luck to anyone who tries to bring any sense of calm in the near term.
