VOA标准英语2008年-India's Stock Markets Plunge Sharply

By Anjana Pasricha
New Delhi
09 June 2008

India's stock markets have plunged¹ sharply, largely on worries increasing oil prices will hurt the country's fast-growing economy. Anjana Pasricha reports from New Delhi, the Indian stock markets have been falling since worries rose about a slowdown in the U.S. economy earlier this year.
　

Onlookers2 watch share prices on a screen on the facade3 of the Bombay Stock Exchange in Mumbai, India, 09 Jun 2008

The Mumbai stock index, the Sensex, tumbled by 4.5 percent soon after trading opened. It recovered somewhat later, but had lost more than three percent by the end of the day, closing at 15,066 points.

The Indian stock market was the hardest hit compared to other Asian markets such as Japan, and Singapore, which also recorded losses.

Analysts⁴ say the latest surge in prices of crude oil, which topped $138 a barrel last week, has raised worries that India's economy could be hit harder than estimated. India imports three quarters of its oil, and its state-owned oil companies have been losing billions of dollars since oil prices began climbing.

But high oil prices are not the only factor affecting the Sensex, which has lost about 23 percent of its value since the start of the year.

Rajesh Jain, at Pranav Securities in Mumbai, says the steep stock-market decline has been driven by heavy selling by foreign institutional investors⁵ or FII's.

"Holdings are concentrated in the hands of large FII's who sell any quantity on a single day," said Jain. "To absorb that kind of quantity you may not have ready buyers at all times, and both long-term buyers and speculators are absent from the market."

The foreign investors have pulled approximately $5 billion from the Indian stock markets this year. They began pulling out earlier this year amid concerns that a slowdown in the U.S. economy will adversely⁶ impact emerging economies such as India.

Those worries have been intensified⁷ by the relentless⁸ rise in crude oil prices and high domestic inflation.

1 plunged   

v.颠簸( plunge的过去式和过去分词 )；暴跌；骤降；突降

参考例句：

• The train derailed and plunged into the river. 火车脱轨栽进了河里。
• She lost her balance and plunged 100 feet to her death. 她没有站稳，从100英尺的高处跌下摔死了。

2 onlookers   

n.旁观者，观看者( onlooker的名词复数 )

参考例句：

• A crowd of onlookers gathered at the scene of the crash. 在撞车地点聚集了一大群围观者。
• The onlookers stood at a respectful distance. 旁观者站在一定的距离之外，以示尊敬。

3 facade   

n.(建筑物的)正面，临街正面；外表

参考例句：

• The entrance facade consists of a large full height glass door.入口正面有一大型全高度玻璃门。
• If you look carefully,you can see through Bob's facade.如果你仔细观察，你就能看穿鲍勃的外表。

4 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

5 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

6 adversely   

ad.有害地

参考例句：

• We commented adversely upon the imbecility of that message of telegraphic style. 我们对着这条电报式的愚蠢的留言发泄了一通不满。
• Widely fluctuating exchange rates may adversely affect international trade. 浮动幅度很大的汇率可能会对国际贸易产生有害的影响。

7 intensified   

v.（使）增强， （使）加剧( intensify的过去式和过去分词 )

参考例句：

• Violence intensified during the night. 在夜间暴力活动加剧了。
• The drought has intensified. 旱情加剧了。 来自《简明英汉词典》

8 relentless   

adj.残酷的，不留情的，无怜悯心的

参考例句：

• The traffic noise is relentless.交通车辆的噪音一刻也不停止。
• Their training has to be relentless.他们的训练必须是无情的。