India's BSE index hits lowest in 10 months; NSE below 8,000 pts
Source: Reuters
India's benchmark BSE index plunged more than 4 percent to its lowest since October 2014 amid falls in blue chips such as Larsen & Toubro, as a rout in Chinese equities sparked widespread unrest in global financial markets.
A fall of more than 4 percent at the close would mark the BSE's biggest daily percentage fall since at least Sept. 22, 2011, a day also marked by steep declines in global markets.
The rupee also slumped, prompting Reserve Bank of India Governor Raghuram Rajan to say he stood ready to deploy foreign exchange reserves to curb volatility in the currency.
Still, analysts believe Indian markets could be hurt less than other countries given its sturdier economic fundamentals.
Read more: http://www.reuters.com/article/2015/08/24/markets-india-stocks-idUSL4N10Z27520150824
Tata Motors is down 10% today. Stay out from under tall buildings in Mumbai for a bit...
