The BSE Sensex posted a third consecutive weekly fall, closing nearly 1 percent lower amid persisting worries over the slowdown in foreign investors’ buying into Indian shares.
Data shows FIIs sold shares worth $9.5 million on Thursday, snapping a 32-day buying streak as minutes from the last U.S. Federal Reserve meeting showed a decision on tapering its bond-buying programme may be taken at one of its next few meetings.
Folk singer Reshma was born in 1947, the historic year when India and Pakistan gained independence from British rule. She was born in India, but her family migrated to Pakistan when she was a month old. Small wonder, then, that Reshma’s unconventionally husky voice won admirers on both sides of the international border.
Reshma, who died earlier this week after a battle with throat cancer, was best known for her distinctive rendition of Punjabi folk songs. For her fans, she was the “Nightingale of the Desert” and her death at the age of 66 was a fresh blow to the arts in Pakistan, coming a year after ghazal singer Mehdi Hassan’s death.
Hurt by profit-taking in blue chips, the BSE Sensex posted its worst weekly decline since August as it lost 2.7 percent in a holiday-truncated week.
On Thursday, shares were hurt after ratings agency Standard & Poor’s said it will review the rating of Asia’s third-largest economy after the new government lays out its policy agenda next year. The agency’s outlook on rating remains negative.