RealNews

Bombay blasts upset stock market

The two bomb explosions in India’s financial hub Bombay have knocked confidence on the leading stock exchange at a crucial stage in its recovery. Immediately after the blasts, Indian shares fell by nearly 3%, while the rupee lost 0.15% against the dollar to close at its lowest level for 10 days. Chief Minister Sushil Kumar Shinde said he believed the attacks were designed to destroy the relative peace and economic rise being enjoyed by the city. “The blasts have thrown up a challenge to the resilience of this city.” “The explosions were aimed at targeting the economic activity of the city as well as Bombay as a tourist destination,” he said. But analysts warned against letting the explosions, which killed at least 40 people and injured more than 100, set the economic progress back. Full Story

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