Indian shares fell 2.31 percent on Thursday as investors ignored overnight gains on Wall Street, on concerns that more bad news could emerge from the US financial sector, dealers said. The benchmark 30-share Sensex index fell 338.32 points to 14,324.29, the third consecutive day of losses.
India's inflation figure is far above the central bank's target of seven percent for the fiscal year to March 31, 2009. "The markets are seeing stickiness. There is little appetite for equities at this stage," said a dealer at brokerage Jamnadas Morarjee.
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