The Bull Phase of the Sensex.

http://en.wikipedia.org/wiki/File:S%26P_BSE_SENSEX_chart.svg

In January 2002 the SENSEX was at 2000 levels and in January 2008 it touched 20,000 levels. This is about 900% growth in 6 years.
This kind of bull run happened all over the world. All the countries the world over are just riding this wave.
The NASDAQ gave above 100% growth in the same period.
http://en.wikipedia.org/wiki/File:Nasdaq_Composite.png

The Stock Market Crash of 2008

In the third week of January 2008, the SENSEX experienced huge falls along with other markets around the world. On 21 January 2008, the SENSEX saw its highest ever loss of 1,408 points at the end of the session. The SENSEX recovered to close at 17,605.40 after it tumbled to the day's low of 16,963.96, on high volatility as investors panicked following weak global cues amid fears of a recession in the US.

The next day, the BSE SENSEX index went into a free fall. The index hit the lower circuit breaker in barely a minute after the markets opened at 10 am. Trading was suspended for an hour. On reopening at 10.55 am IST, the market saw its biggest intra-day fall when it hit a low of 15,332, down 2,273 points. However, after reassurance from the Finance Minister of India, the market bounced back to close at 16,730 with a loss of 875 points.^[15]

Over the course of two days, the BSE SENSEX in India dropped from 19,013 on Monday morning to 16,730 by Tuesday evening or a two-day fall of 13.9%.^[15] Less than a month later, on 11 February 2008, the SENSEX lost 833.98 points, when Reliance Power fell below its IPO price in its debut trade after a high-profile public offer.