Markets fall on economy worries

Mumbai: India’s benchmark BSE index extend falls in afternoon to 0.9%, with the NSE index down 1.3% on continued worries about India’s growth outlook at a time of weakening indicators from the global economy.

The BSE index is down nearly 1% for the week so far, and is headed for its fifth weekly fall in six.

Tech shares are leading losses, with Infosys and TCS down 1.7% each, on worries about the global economy.

Despite hopes for potential rate cuts, the Nifty’s Bank index falls 1.1% on the worsening domestic economic conditions.

State Bank of India falling 1.1%. Other blue chips also under pressure: Reliance Industries down 2.1%, Larsen & Toubro down 1.6%.