The benchmark Sensex of the Bombay Stock Exchange has little to cheer about this Christmas season.
The index has lost 22% compared to the year-ago period. The Sensex closed at 20,074 on December 24 2010 (the last trading session before Christmas) while on December 23 this year it closed at 15,739, down 4,335.
The Sensex started the new year on strong note with it closing on 20,561 points on January 3, the first trading session, but things started turning bad in the coming months.
“The fall was mainly due to the sovereign debt crisis in the euro zone, which led to the withdrawal of foreign investment from India,” said Alex Mathew, head of reserach, Geojit BNP Paribas Financial Services.