VOA标准英语10月-Indian Stock Markets Continue to Plunge Despite C

India's stock markets have plunged¹ to a three-year low despite assurances by top officials that Asia's third largest economy can be cushioned from the global economic turmoil². As Anjana Pasricha reports from New Delhi, the Central Bank is infusing more liquidity³ in the financial system in a bid to restore confidence.
　

Stock broker4 reacts as he watches share prices at brokerage in Mumbai, 10 Oct 2008

The Mumbai stock index, the Sensex, plunged by 800 points Friday, bringing it down to 10,527 points. The losses since Monday piled up to more than 16 percent, making it the worst week in the history of Indian stock markets.

The stock market slide continued despite an announcement by the Central Bank that it will make an additional $12 billion of credit available to ensure that there is no liquidity crisis in the financial system.

But neither the Central Bank's move, nor reassuring⁵ statements by the government convinced investors⁶ that India will remain immune from the global financial crisis.

Finance Minister P. Chidambaram says the Indian financial system is stable, and has the resilience to weather the storm blowing across the world.

He says liquidity conditions have tightened⁷, but the government will ensure that there is enough credit to support economic growth.

"We will watch the situation carefully and continuously and respond swiftly to the needs of the market," Chidambaram said. "Steps will be taken to infuse more liquidity if required."

The finance minister also gave assurances that India's banking⁸ system is sound, and well regulated.

Banking stocks have been falling heavily since the global financial turmoil began to unravel⁹.

The worst-hit is India's largest private sector¹⁰ bank, ICICI, whose shares fell by more than 20 percent Friday. But its head, Chanda Kocchar says that the bank faces no problems.

"We have adequate liquidity given the current condition, and even in our international operations we have sufficient liquidity," Kocchar said.

Traders say the Indian stock market is reflecting the panic around the globe. Heavy selling by foreign investors is adding to the gloom. Foreign investors have sold shares worth nearly $1 billion this week, taking the total outflow this year to $5 billion.

That has put pressure on the Indian rupee, which has fallen to a six-year low against the dollar.

In addition there are worries that although the country's financial system may ride out the global turmoil, the economy will not be able to sustain high growth as major world economies head toward a recession.

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 turmoil   

n.骚乱，混乱，动乱

参考例句：

• His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
• The robbery put the village in a turmoil.抢劫使全村陷入混乱。

3 liquidity   

n.流动性，偿债能力，流动资产

参考例句：

• The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
• The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。

4 broker   

n.中间人，经纪人；v.作为中间人来安排

参考例句：

• He baited the broker by promises of higher commissions.他答应给更高的佣金来引诱那位经纪人。
• I'm a real estate broker.我是不动产经纪人。

5 reassuring   

a.使人消除恐惧和疑虑的，使人放心的

参考例句：

• He gave her a reassuring pat on the shoulder. 他轻拍了一下她的肩膀让她放心。
• With a reassuring pat on her arm, he left. 他鼓励地拍了拍她的手臂就离开了。

6 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

7 tightened   

收紧( tighten的过去式和过去分词 )； （使）变紧； （使）绷紧； 加紧

参考例句：

• The rope holding the boat suddenly tightened and broke. 系船的绳子突然绷断了。
• His index finger tightened on the trigger but then relaxed again. 他的食指扣住扳机，然后又松开了。

8 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

9 unravel   

v.弄清楚（秘密）；拆开，解开，松开

参考例句：

• He was good with his hands and could unravel a knot or untangle yarn that others wouldn't even attempt.他的手很灵巧，其他人甚至都不敢尝试的一些难解的绳结或缠在一起的纱线，他都能解开。
• This is the attitude that led him to unravel a mystery that long puzzled Chinese historians.正是这种态度使他解决了长期以来使中国历史学家们大惑不解的谜。

10 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。