Markets crash as DMK quits UPA
Tuesday March 19, 2013 12:13:06 PM,
IANS
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Related Article |
DMK pulls out of UPA, rules out outside
support
DMK chief M. Karunanidhi Tuesday quit the Congress-led UPA and its
government expressing dismay on India's stand over Sri Lanka at
the United National Human Rights Council (UNHRC). »
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Mumbai:
Indian equities crashed Tuesday morning, minutes after the DMK
quit the ruling United Progressive Alliance (UPA) over the Sri
Lankan issue.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE)
opened higher Tuesday at 19,345.91 points against the last close
at 19,293.20 points. But soon after the news of the pullout, it
crashed to 18,939.47 points, an intra-day fall of over 400 points.
The key index saw some volatile movement and was quoting at
19,066.25 points before noon, with a loss of 226.95 points, or
1.18 percent, over the previous day's close.
The DMK has 18 members in the Lok Sabha and five of its MPs are
ministers in Prime Minister Manmohan Singh's council of Ministers.
The party wants a resolution adopted in parliament declaring there
was genocide of Tamils in Sri Lanka.
Sri Lanka is under attack over the death of a large number of
Tamil civilians during the final stages of the war that crushed
the Liberation Tigers of Tamil Eelam (LTTE) in 2009.
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