Indian shares fell for a third consecutive session on Thursday to their lowest close in more than a week as a weakening rupee added to the worries about fading outlook for corporate earnings. The main 30-share BSE index shed 1.17 percent, or 183.92 points, to 15,543.93, its lowest close since December 20. Twenty-four of its components declined.
The benchmark has lost 2.7 percent over the past three sessions and is on track to post its biggest annual fall in three years, having dropped 24 percent since the start of January. Energy major Reliance Industries, which has been under pressure due to falling gas output from its field off the country's east coast, led the losses.
The stock dropped 3.7 percent to 711.90 rupees, its lowest close in more than 2 years. Top private-sector lender ICICI Bank and smaller rival HDFC Bank slipped 1.6 and 2.3 percent respectively. The BSE's banking sector index has plunged near 30 percent year to date.
Top car maker Maruti Suzuki fell 3.9 percent, while truck, utility vehicle and car maker Tata Motors shed 0.6 percent. Export-focused software services bellwether Infosys fell 1.4 percent on concerns Europe's debt crisis could dent global technology spending. The 50-share NSE index fell 1.27 percent to 4,646.25 with 38 of its components ending in red. In the broader market, there were 1.7 losers for every gainer on total volume of 686.5 million shares.