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Indian stocks fall 1 pct; IT hit by US 'fiscal cliff' fears
November 15, 2012 / 8:29 AM / 5 years ago

Indian stocks fall 1 pct; IT hit by US 'fiscal cliff' fears

MUMBAI, Nov 15 (Reuters) - * India's benchmark
BSE index falls 1 percent while the 50-share NSE index
 also loses 1 percent.
* Falls mirror worsening global risk environment at the prospect
of drawn-out negotiations over the U.S. "fiscal cliff."
 
* Software services exporters with U.S. exposure are among the
leading losers. Tata Consultancy Services falls 1.8
percent and Infosys declines 2.2 percent.
* Cement maker Jaiprakash Associates falls 2.6 percent
after posting a 48.6 percent fall in July-September net profit.
 
* Earnings pull down its rivals: UltraTech Cement 
drops 5.1 percent, while ACC falls 2.2 percent.
 
* However, telecom stocks gain after muted demand at the 2G
auction seen reducing prices for airwaves. Bharti Airtel
 shares gain 3.2 percent. 

 (manoj.dharra@thomsonreuters.com /
manoj.dharra.thomsonreuters.com@reuters.net)

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