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India's NSE stock index falls 3 pct; blue chips slump on Fed move
June 20, 2013 / 9:53 AM / 4 years ago

India's NSE stock index falls 3 pct; blue chips slump on Fed move

MUMBAI, June 20 (Reuters) - India’s 50-share NSE index fell around 3 percent on Thursday, the most in a day in almost 21 months, as blue chips such as Reliance Industries slumped after the U.S. Federal Reserve signalled a tapering of its monetary stimulus, stoking fears of portfolio outflows.

Bonds, shares and commodities fell sharply around the world and the dollar rose after the Fed explicitly signalled an end to easy money and data showed China’s economy slowing.

The BSE index fell 2.8 percent, while the 50-share NSE index was down 2.9 percent at 0941 GMT, on way to mark their biggest single-day percentage fall since Sept. 22, 2011. (Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)

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