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India stocks tumble amid China market worries
January 7, 2016, 7:50 am

Markit warned the state of economic recovery was still fragile and that “meaningful job creation last recorded was in 2013” [Image: Archives]

Nikkei/Markit warned on Wednesday the state of economic recovery was still fragile and that “meaningful job creation last recorded was in 2013” [Image: Archives]

India’s stock markets fell 2 per cent on Thursday to their lowest level in more than three weeks after China accelerated the depreciation of the yuan, sparking sharp falls in regional equity and currency markets.

The broader NSE Nifty was down 2 per cent at 12.11 p.m., hitting its lowest since Dec. 14.

The benchmark BSE Sensex was down 1.95 per cent, in a fourth day of losses.

Overseas funds sold a net $37 million of Indian stocks on Jan. 5, taking outflows this month to $81 million.

 

Source: Agencies