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Australia reached 317-3 with six overs to spare after bowling England out for 315 in 49.4 overs
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Indian shares down 2.65 percent after Asian and US markets tumble
MUMBAI - Indian share prices were down 2.65 percent in noon trade Friday with investors spooked by concerns of a credit crunch linked to the troubled US mortgage sector, dealers said.
They said the market recovered slightly from a morning plunge of 3.6 percent in the benchmark 30-share Mumbai stock exchange Sensex index, but concerns remained about further declines.
Around 0615 GMT, the Sensex was down 399.83 points at 14,700.33, off the day low of 14,570.89. The index is now more than seven percent down from an intraday record of 15,868.85 set on July 24.
Overseas funds have led the fall, selling 9.7 billion dollars of Indian equities in the past two weeks, official data showed Thursday.
Dealers said liquidity on the main bourses, the Mumbai and National stock exchanges, had dropped noticeably in line with markets around the world.
“We expect a painful correction in the coming weeks. This is just the snow being dusted off the coat,” said Atul Mehra, capital markets chief with brokerage JM Financial.
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