Indian stock markets see 154 bln USD loss in 2 days

NEW DELHI, Nov. 13 (Xinhua) — Indian stock markets continued to witness a fall for the second consecutive day on Wednesday, owing to rising retail inflation and foreign funds withdrawal.
The steep fall in Indian stock markets led to an estimated loss of nearly 13 trillion Indian Rupees (around 154 billion U.S. dollars) to investors over the past two days, said domestic media reports.
The Bombay Stock Exchange (BSE) Sensex fell by over 984 points to close at 77,690.95, while the National Stock Exchange (NSE) dropped by over 324 points to close at 23,559.05 at the end of day’s trading, showed their respective official websites.
“In the last two days the BSE fell 1805.2 points, which was nearly 2.27 percent decrease,” said an online report by The Times of India.
It quoted a market analyst Vinod Nair as saying, “Relentless selling by Foreign Institutional Investors (FIIs) amid weak corporate and a sharp surge in domestic inflation to a 14-month high, have further impacted investor sentiment.” ■