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Indian stocks hit by US selloff in short term: Pranab

Last Updated: Friday, August 19, 2011 - 18:39

New Delhi: India's stock markets have been affected by the U.S. market sentiments in the short term, Finance Minister Pranab Mukherjee said in a statement released after market hours on Friday.

The BSE Sensex dropped nearly 2 percent on Friday, extending its losing streak to the fourth straight week, dragged by global equities rout on mounting concerns the U.S. economy is sliding back to recession and that some European lenders faced a short-term funding crunch.

The main 30-share BSE index ended down 1.99 percent, or 328.12 points at 16,141.67, with 21 of its components closing in the red. It had fallen as much as 2.9 percent earlier in the day.

Bureau Report

First Published: Friday, August 19, 2011 - 18:39
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