Stock Market crash in Jan 2008 devastated many innocent investors. Some were even forced commit suicide…

Jan 2008: Biggest Stock Market Crash in Indian History.
Reason:
1.Sub-prime Crisis
2.Recession in the US (which later spread to all over the world)
3.Global melt-down in Stock Market
Background:
Sub-prime crisis had started showing it’s impact on US Stock markets in Aug 2007 & the situation worsened since Oct 2007.
Important: Final leg of the fall (not limited to US Mks only, but the Global Meltdown) had started on 26th Dec 2007.

Interestingly, Reliance Power IPO’s dates & timing coincide with the above mentioned date & time.
RPOWER IPO was open till 18th Jan 2008 (upto 1.00 pm)
If you see the Intraday chart of 18th Jan 2008, you may come to know that market was almost flat till 1.00 pm and after 1.00 pm a free fall started, which took down the market by 3.5% in just two and half hours. The speed of downfall was amazing. This fall continued & even sharpened over the next couple of days. As if somebody had kept the bears on hold till 18th Jan upto 1.00 pm and suddenly after that the thirsty bears came into action…

Later on some experts analyzed this fall as below:
A combination of global and local factors affected the Indian market. On the global front, other emerging markets were down nearly 20% so India is playing catch-up. (Mihir Vora of HSBC Mutual Fund, on NDTV Profit).
But the questions remain,
If the Indian market had to catch up with the Global Meltdown, why did it happen so late? had anyone ‘timed’ this catch up?
What would have happened to the RPOWER IPO if the Indian Market had crashed (& market sentiment had spoiled) before the IPO?
Why were ADAG groups shares (like RNRL) spurting up by 5 – 10 % daily without any news/reason, before the IPO?