Indian shares slump; food bill raises fiscal deficit concerns

MUMBAI Tue Aug 27, 2013 11:07am IST

Related Topics

Stocks

   
Rajalakshmi (C), 28, smiles after winning the Miss Wheelchair India beauty pageant in Mumbai November 26, 2014. REUTERS/Danish Siddiqui

Miss Wheelchair India

Seven women from across India participated in the country's second wheelchair beauty pageant, which aims to open doors for the wheelchair-bound in modelling, film and television, according to organisers  Slideshow 

MUMBAI Aug 27 (Reuters) - India's NSE index fell as much as 2 percent as blue chip shares including HDFC Bank slumped on concerns that the passage of food security bill will weigh on the country's fiscal and current account deficits, raising fears of a sovereign rating downgrade.

The lower house of parliament approved a plan worth nearly $20 billion on Monday to provide cheap grain to the poor.

HDFC Bank Ltd fell 5.5 percent, while ITC Ltd lost 1.3 percent.

The broader NSE index fell 2 percent, while the benchmark BSE index slumped 1.8 percent. (Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)

FILED UNDER:

REUTERS SHOWCASE

E-Commerce Boom

E-Commerce Boom

Online grocers come up trumps in India's e-commerce boom   Full Article 

Reuters Poll

Reuters Poll

GDP growth to slow to 5.1 pct, but no rate cut yet  Full Article 

Oil Prices Fall

Oil Prices Fall

Oil at four-year low as OPEC production cut looks unlikely  Full Article 

Hughes Dies

Hughes Dies

Australia batsman Hughes passes away aged 25  Full Article 

Jamini Roy

Jamini Roy

Photo Gallery – Bengali household name Jamini Roy’s paintings  Full Article 

Google in Europe

Google in Europe

Insight - Behind Google's Europe woes, American accents  Full Article 

India-focused Funds

India-focused Funds

India-focused hedge funds up over 40 pct YTD - HFR  Full Article 

Trade Deal

Trade Deal

WTO postpones trade deal by a day after last-minute objection.  Full Article 

Land Disputes

Land Disputes

Disputes over land for industry on the rise in India, angering locals - charities  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage