Indian shares fall on US recession worries
Mumbai, January 21, 2008
Indian shares fell on Monday for the sixth consecutive day amid a regional sell-off on US recession concers.
The 30-company benchmark index of the Bombay Stock Exchange, the Sensex, fell 422 points, or 2.2 percent to 18,591 points, after falling as much as 3.6 percent in the first half-hour of trading.
On the rival National Stock Exchange, the 50-share S&P Nifty index was down 136 points, or 2.4 percent, at 5,569 points.
The Sensex fell more than 8 percent last week.
Among the big losers was engineering and construction giant Larsen & Toubro Ltd., which was down 4.2 percent at 3,770 rupees, followed by cement company Grasim Industries Ltd, off 2.3 percent at 3,271 rupees. Petrochemical firm Reliance Industries Ltd. sank 2 percent at 2,745 rupees.