MUMBAI, Oct 17 (Reuters) - Indian shares plunged more than 9 percent and the
rupee tumbled to its lowest in almost a month on Wednesday after the stock
market regulator proposed curbs on foreign portfolio inflows to jam the
brakes on record-breaking markets.

Trading in shares was suspended for an hour immediately after opening as the
main indexes' slide triggered circuit breakers and rupee retreated after a
run up to 9-½ year highs against the dollar in recent weeks.

Finance Minister Palaniappan Chidambaram said the proposals were part of a
series to stem capital, which has been flooding into India's markets via
indirect instruments known as participatory notes, and they were not a ban,
just a cap on the amount of money coming in.

"Investors through participatory notes are certainly welcome to invest in
India, but for the present it is important to moderate these capital
inflows," he told a news conference.

"If some investor wishes to register in India as an FII and invest, he is
most welcome," he said, referring to foreign institutional investors.

The benchmark BSE 30-share index <.BSESN> was suspended for an hour after
dropping 9.15 percent soon after the 9:55 a.m. (0425 GMT) open. Trade
resumed an hour later, and the market was 6.8 percent down at 17,763.75 by
0535 GMT.

The market had hit a record high of 19,174.45 on Tuesday, its 18th record
high in 19 sessions.

The rupee plunged 1.6 percent to 39.98 per dollar <INR=IN> , according to
Reuters data, its weakest since mid-September and well below last week's
peak of 39.27, which was its highest since March 1998.

"There will be panic in the market in the next two to three days," said
Nipun Mehta, head of Unitis Tower Wealth Advisors.

"But they are perhaps trying to get all the pain out in one operation and
this kind of move always hits the market."

The Securities and Exchange Board of India (SEBI) said late on Tuesday that
after consulting the government it was recommending changes in policy on
participatory notes, which are issued by registered FIIs to investors not
registered in India but who want to buy stocks.

Indian authorities, particularly the central bank, have been taking steps in
recent months to try to stem the rupee's rise on the back of a flood of
foreign money into the share market.

Foreign investors have put $4.6 billion into the share market this month,
taking the total in 2007 to a net $17.6 billion, well above a record $10.7
billion in the whole 2005.

India's economy grew 9.4 percent in the last fiscal year, the world's
fastest growing major economy after China, and is expected to expand 8.5
percent in the year to March 2008.

(Additional reporting by Rina Chandran, Himangshu Watts, Saikat Chatterjee
and Virendra Verma)

((Writing by Charlotte Cooper, editing by John Mair; Reuters Messaging:
charlotte.cooper.reuters.com@reuters.net)) Keywords: INDIA MARKETS

"*Afef la bella tunisina lunatica*®" <sognocca@ericcia.com> ha scritto nel
messaggio news:fekRi.13699$ga5.841@tornado.fastwebnet.it...
> MUMBAI, Oct 17 (Reuters) - Indian shares plunged more than 9 percent and
> the rupee tumbled to its lowest in almost a month on Wednesday after the
> stock market regulator proposed curbs on foreign portfolio inflows to jam
> the brakes on record-breaking markets.



Quando si limitano le iniziative private (e in questo caso degli investitori
stranieri che giocano un ruolo fondamentale per l'economia indiana...).....è
il minimo che possa succedere ad una piccola borsa, seppur in espansione e
proiettata verso il futuro.....


Fibonacci, Bradley, Gann ed Elliott concordano per una correzione (io mi
adeguo) e in un mercato toro ogni motivo è buono per prendere profitto...

Guarda la vicenda Turchia-Kurdistan....le quantità di petrolio sul mercato
non diminuiranno, qualunque decisione venga presa, ma intanto i prezzi
dell'oil salgono....e le borse scendono.....


Ciao, ci sentiamo stasera, devo uscire.....