The market today was stunned when Sensex broke the 12500 mark during the session and finally closed a little over 12500, down more than 500 points. This is coming at the back of rupee weakening and crossing the Rs47 mark against the dollar and news of the US House beginning a vote for a $700 billion emergency bail out. ET reports that investors have lost more than Rs 5 trillion since the Lehman collapse and things would not get any better in weeks to come, keeping in mind the short term credit crunch that the Indian markets will now face.The good sign though still remains that the Domestic Institutional Buyers are still net buyers and have their faith in Indian economy. They see these instances as market tremors which will stabilize values and bring them closer to intrinsic worth.
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