Indian shares slip 1.55% on weak global markets

Indian shares slip 1.55% on weak global markets
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First Published: Mon, Aug 06 2007. 04 23 PM IST
Updated: Mon, Aug 06 2007. 04 23 PM IST
AFP
Mumbai: Indian share prices fell 1.55% on Monday on continued concern about a possible US credit crunch, dealers said.
They said markets recovered from the day’s low on bargain hunting, though fresh overseas fund buying was absent.
The Mumbai stock exchange benchmark 30-share Sensex index fell 235.37 points to 14,903.03, retracing from a day’s low of 14,705.58.
Dealers said the markets will track the US Federal Reserve monetary policy meeting scheduled on Tuesday for direction.
“The markets remain nervous, tracking global trends. We could expect this volatility to continue for several days,” said Advait Date, dealer with brokerage BHH Securities.
Over the past week, overseas funds led the sell-off sparked by heavy losses on Wall Street after problems in the US home loan market.
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First Published: Mon, Aug 06 2007. 04 23 PM IST
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