India, March 10 -- It was a 'Black Monday' of the blackest nature. The dark slick turned into huge fires that hungrily licked at every asset base, be it stocks, currencies, commodities, real estate, and GDPs. The looming flames turned everything dark as the smoke made it difficult to see, or even imagine, and the temperatures numbed the minds and hearts. Even the boisterous never-ending celebrations of India's unprecedented victory in the T20 World Cup were muted, even silenced. Oil is on the boil, economies are in turmoil, and the various assets are roiling in recoil. No one wants to go near it, no one can walk away from it.

Every morning, when the Sensex, the Bombay Stock Market Index, opens, it is more than 2,000 points down, sometime...