Mon, May 26 07:49 PM
MUMBAI, India (AP) _ Indian shares fell Monday as investors sold leading cement company stocks and banking scrips. The Bombay Stock Exchange's benchmark 30-stock Sensex fell 301 points, or 1.8 percent, to 16,349 points.
On the broader National Stock Exchange, the 50-company S&P Nifty index slipped 71 points, or 1.5 percent, to 4,875 points. Among the biggest losers were cement companies.
Ambuja Cements Ltd. closed 5.4 percent lower at 97 rupees, followed by Grasim Industries Ltd.
off 3.5 percent at 2,209 rupees and ACC Ltd. declined 1.9 percent to 655 rupees.
Telecommunication firm Reliance Communications Ltd. fell 5 percent to 543 rupees as investors sold stock on concerns that the company's profits would be hit following news that the telecom firm was in merger talks with the MTN Group, South Africa's largest mobile phone network operator.
Bank stocks took a beating with ICICI Bank Ltd. off 4.3 percent at 827 rupees, followed by HDFC Bank Ltd.
closing 2.6 percent lower at 1,348 rupees and State Bank of India down 2.3 percent at 1,538 rupees.
If you are young, have a hectic social life where you drink and party, and have applied for a job, chances are you will lose out to someone who is a teetotaler.
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