Indian stocks drop sharply; Sensex falls more than 3 percent on continued investor uncertainty

Tue, Jul 8 11:20 AM

MUMBAI, India (AP) _ Indian stocks dropped sharply Tuesday amid continued investor uncertainty. The Bombay Stock Exchange's benchmark 30-stock Sensex index fell 423.15 points, or 3.13 percent, in early trade to 13,102.84.

On the broader National Stock Exchange, the 50-company S&P Nifty index lost 113 points, or 2.80 percent, to 3,918.85 points. Indian markets have been volatile in recent weeks with several sharp declines as investors worried over rising inflation and the stability of the federal government.

Weak global markets and soaring energy prices have also hit markets hard. The Sensex has fallen to near 13,000 from record highs of 21,000 points since January.

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