Indian shares fell 0.71 per cent Monday, a third straight fall taking them to a six-week closing low, with Larsen & Toubro and Bharti Airtel leading the losses as fund activity wound down into year-end.
Engineering and construction firm Larsen & Toubro declined 2.4 per cent, contributing most to the fall in the index, and state-run infrastructure firm Bharat heavy Electricals fell 1.35 per cent.
The index, powered by foreign buying of $16.5 billion of stocks up to mid-December, is up 72 per cent this year. But it is about 5 per cent below 17-month highs just under 17,500 hit in October, and has lost momentum as foreigners close their books for the end of the year. The 50-share NSE index closed down 0.7 per cent at 4,952.60.
Tuesday, December 22, 2009
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