sensex Slips Over U.P. Election Uncertainty
ndian stock investors were jittery on the eve of the results of five state elections on Tuesday. The benchmark Bombay Stock Exchange’s Sensitive Index fell around 200 points, or 1.1%, by noon on Monday, to trade at 17,442.
Other Asian markets also traded lower, thanks partly to news of economic slowdown in China, the world’s second largest economy after the U.S. Chinese Premier Wen Jiabao cut the country’s economic growth target to 7.5% for 2012, after keeping it steady at 8.0% for eight years. China’s actual growth has been higher than the government’s target.
Hong Kong’s Hang Seng index had lost 267 points or 1.24% to trade at 21295 by the afternoon.