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Nifty falls 3 percent; blue chips slump on Fed move

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Reuters MUMBAI

MUMBAI (Reuters) - The Nifty fell around 3 percent on Thursday, the most in a day in almost 21 months, as blue chips such as Reliance Industries slumped after the U.S. Federal Reserve signalled a tapering of its monetary stimulus, stoking fears of portfolio outflows.

Bonds, shares and commodities fell sharply around the world and the dollar rose after the Fed explicitly signalled an end to easy money and data showed China's economy slowing.

The BSE Sensex fell 2.8 percent, while the 50-share Nifty was down 2.9 percent, on way to mark their biggest single-day percentage fall since September 22, 2011. (Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)

 

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First Published: Jun 20 2013 | 3:24 PM IST

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