India, Dec. 9 -- Yesterday, the Sensex, or the Bombay Stock Exchange index fell by 600 points. It was kind of unexpected since it had turned around its southward movement over the past few sessions. Once, the pundits began to explain the reasons behind the fall, there was a feeling of hollowness, and inexplicability about them. For example, one of the factors was the two-day meeting of the US Federal Reserve Board, which was expected to announce another minor rate cut. But then this was expected for weeks, and one thought that the stock markets, like it does with future expected events, had discounted it. Indeed, one of the reasons for the earlier rises was that the minor rate cut was unlikely to change things materially in the form of fo...