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India's NSE index slumps over 3 pct; food bill raises deficit worries
August 27, 2013 / 8:23 AM / 4 years ago

India's NSE index slumps over 3 pct; food bill raises deficit worries

MUMBAI, Aug 27 (Reuters) - India’s NSE index fell as much as 3.1 percent on Tuesday, giving up nearly all gains over the previous three sessions, as blue chips including HDFC slumped on worries the passage of a food security bill would worsen the country’s fiscal deficit.

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

Housing Development Finance Corp Ltd slumped 8.8 percent, while ITC Ltd lost 4.4 percent.

The broader NSE index fell 3.1 percent, while the benchmark BSE index slumped 2.8 percent, giving up nearly all the gains made in three-day winning streak. (Reporting by Abhishek Vishnoi; Editing by Rafael Nam)

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