Indian shares post worst monthly loss in a year

Mumbai INdian shares fell 7.2% in October 09 and logged their biggest monthl fall in a year, after they closed 1% lower on Friday as investors gave a thumbs down to results from some key corporates such as Reliance Ind. & Bharti Airtel.

Top mobile operator Bharti Airtel tumbled 6.4% to 292.15 rupees, as it gave a downbeat due to a nasty price war after posting its slowest pace of profit growth in at least six years.

The 30-share BSE Index closed 0.97% or 156.44 points lower at 15,896.28, after rising to as much as 16,360.88 points in early trade, cheered by a rise in global markets, as data showed United States retunred to economic gorwth. Foreign funds have infused around $ 14.4 billion in Indian equities so far this year which have led to a rise of nearly 65% in the benchmark.