Business News
India's Sensex falls 2.2 per cent to two-year low
Dec 16, 2011, 13:05 GMT
New Delhi - India's Sensex fell 2.2 per cent to its lowest level in more than two years Friday on concerns of a slowdown in Asia's third-largest economy.
The benchmark 30-share index on the Bombay Stock Exchange closed at 15,491.35 points, down 345.12 points or 2.18 per cent lower than Thursday.
Capital goods, real estate and banking indices came under pressure in the last hour of trade and led the losses.
The broader 50-share S&P CNX Nifty on the National Stock Exchange also closed at its lowest levels in two years, down 2 per cent or 94.75 points from its previous close.
The central Reserve Bank of India in its review of monetary policy on Friday kept the key interest rates unchanged.
'While inflation remains on its projected trajectory, downside risks to growth have clearly increased. Further rates hikes may not be warranted,' the RBI said.
The Indian economy grew 6.9 per cent year-on-year in the July to September quarter, its slowest growth in two years, government data released last month showed.
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