Indian shares drop; dragged down by ITC, software firms, AS

Thu, May 8 07:07 PM

MUMBAI, India (AP) _ Indian shares fell Thursday pulled down by tobacco and hotel conglomerate ITC Ltd. and software firms.

The Bombay Stock Exchange's benchmark 30-stock Sensex dropped 259 points, or 1.5 percent, to 17,081 points.

On the broader National Stock Exchange, the 50-company S&P Nifty index declined 54 points, or 1.05 percent, to 5,082 points.

ITC Ltd. was the biggest loser, declining 5.

2 percent to 215 rupees. Software companies ended in the red with Satyam Computer Services Ltd.

down 3.7 percent at 471 rupees, followed by Infosys Technologies Ltd.

off 3.4 percent at 1,780 rupees and Tata Consultancy Services Ltd.

dropping 2.3 percent to 944 rupees Engineering firm Larsen & Toubro Ltd.

dropped 3.4 percent to 2,886 rupees.

Banks ended lower with ICICI Bank Ltd. off 3 percent at 891 rupees, followed by HDFC Bank Ltd.

down 2.2 percent at 1,508 rupees and State Bank of India declining 2.

2 percent at 1,730 rupees.

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