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On Friday, 24 October 2008, the Sensex, the Bombay Stock Exchange’s benchmark index, fell 11%. Shares of real estate companies Unitech and DLF fell 50% and 24%, respectively. Shares of Reliance Industries fell 16%, the steepest decline since 1993. ICICI Bank’s shares also fell 16%, marking a four-year low. Scrip after scrip touched 52-week lows. It took a certain stiffness of spine to conclude...
