Indian shares down

Indian share prices closed 2.09 percent lower Friday as overseas and domestic funds sold heavily in benchmark index and mid-cap stocks, dealers said.
They said overseas funds sold on perceived high share prices in leading companies, and local funds and retail investors followed suit.
The 30-share Sensex index closed 175.17 points or 2.09 percent lower to 8,201.73 on turnover of 30.15 billion rupees (672 million dollars) as 285 stocks rose and 2,193 declined.
The Sensex has now lost 598.23 points or 6.79 percent since a record close of 8,799.96 on October 4.
"The expected corrective phase has set in. We could continue to see rough trading sessions ahead. Overseas funds have been sellers and the short-term outlook for most emerging markets appears to be bearish," said Atul Hatwar, dealer with brokerage Crosseas Securities.
Overseas funds have been net sellers of Indian shares in October for the first time this year at 136.5 million dollars. But overseas funds remain net buyers this year with investments of 8.45 billion dollars.
Infosys Technologies, the country's second largest software exporter, fell 23.3 rupees or 1.89 percent to 2,300.80 and state-owned energy exploration firm, Oil and Natural Gas, fell 37.5 rupees or 3.64 percent to 992.2.