Trading suspended on India market after 9% slump

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A sharp sell-off in the Indian stock market forced regulators to suspend trading for an hour last ni...

A sharp sell-off in the Indian stock market forced regulators to suspend trading for an hour last night. The 9.2% plunge was triggered by a regulatory proposal that would restrict buying by overseas investors. The Indian government said it wants to tighten the purchase of shares and bonds by foreign institutional investors through offshore derivative instruments. It added that the proposals were aimed at moderating capital inflows and not at discouraging foreign investors. The Sensex sank to 17,544.15, after Tuesday's record high of 19,174.45, while the rupee also lost value. Some of t...

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