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Indian shares fall dragged down by Hindalco telecom firms

Date: 2/11/2008 1:30:42 AM

Indian shares dived Thursday, pulled down by aluminum firm Hindalco Industries Ltd. and telecommunication companies.

The Bombay Stock Exchanges 30share Sensex index moved down 613 points, or 3.4 percent, to 17,527 points.

On the broader National Stock Exchange, the 50company S&P Nifty index lost 189 points, or 3.6 percent, to 5,133 points.

Hindalco Industries Ltd. was among the big losers, down 5.6 percent to 163 rupees.

Telecommunications firm Reliance Communication Ltd. was down 5.5 percent to 644 rupees, followed by Bharti Airtel Ltd. down 4.2 percent to 863 rupees.

Power utility NTPC Ltd. fell 5.1 percent to 206 rupees, while Reliance Energy Ltd. declined 3.4 percent to 1,987 rupees.

Software firms continued to post losses, with Satyam Computer Services Ltd. off 4.4 percent to 391 rupees, Wipro Ltd. down 3.6 percent to 410 rupees, while Infosys Technologies Ltd. and Tata Consultancy Services Ltd. both fell 2 percent to 1,481 rupees and 883 rupees respectively.

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Source: http://www.iht.com/articles/ap/2008/02/07/business/ASFINMKTIndiaMarkets.php


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