Yes and the NSE suspended trading for some hours to stop a free-fall. The fall of PEV was more significant only that the foreigners investors held ground(safcom IPO) before the global financial crisis forced them to avoid any risky markets. It's unlikely the US will recover soon and if it does it has to inflate itself out of debt, the PIGS will continue having problems balancing the budgets so movement of capital towards higher returns in emerging and frontier markets. Moral of the story watch China very carefully.

Guru, I don't see that happening soon. January foreign investors took 72% of the trading volume. NSSF now has to invest 100% of new contributions into government securities due to changes introduced in last year budget. The institutional investors will follow the foreign investors as most are now headed by "expats"

The referendum was peaceful .