Monday, May 22 2006 13:18 Hrs (IST) - World Time -

Mumbai: Trading was suspended in the stock market today (May 22, 2006), with Sensex crashing by 1,000 points as traders and investors were gripped by panic.

Facing an unprecedented situation and the sharpest ever fall, stock market authorities suspended trading for an hour, first time after May 17, 2004.

The crash followed a statement by Central Board of Direct Taxes seeking to dispel suggestions that its draft circular was ambiguous.

The worst ever crash coincided with the second year anniversary of the Congress-led UPA Government.

Just before trading was suspended, the BSE Sensex was quoting at 9,826.91 while the NSE Nifty was at 2,896.45.