Indian share prices fell 1.2 percent Thursday as sentiment weakened after Wall Street plummeted on fears of an economic slowdown sparked by high crude oil prices and a weak dollar, dealers said. They said banking, metal and property stocks fell.
The benchmark 30-share Mumbai stock exchange Sensex index fell 230.9 points to 19,058.93, on its fourth straight day of losses. "The markets fell sharply on global cues. We expect a further correction in the coming days," said Atul Hatwar, a dealer with brokerage Crosseas Securities. Stock exchanges will remain open only for an hour of ceremonial trading on Friday to mark the start of the Hindu new year.
Losers led gainers 1,646 to 1,074 on volume of 67.34 billion rupees (1.71 billion dollars). State-run Oil and Natural Gas Corp fell 52.4 rupees or 4.07 percent to 1,236.8 while State Bank of India fell 82.8 rupees or 3.65 percent to 2,184.65. HDFC Bank fell 58.5 rupees or 3.62 percent to 1,559.4.