India Aid_Oct 8, 2008_Markets recover somewhat but close in red

“There was tremendous nervousness in the market because despite the hard work being done by central banks across the world the crisis is refusing to go away and more and more European banks are getting into trouble,” said Jagannadham Thunuguntla, head of the capital markets arm of India\'s fourth largest share brokerage firm, the Delhi-based SMC Group. “Foreign institutional investors FIIs), especially hedge funds and private equity funds are selling indiscriminately and at any price as they have now come under tremendous redemption pressure,” Thunuguntla told IANS.Read less