(Bloomberg) — India’s shadow banking crisis has sucked in more financial firms this week, eroding a stock market rally that’s been driven by a surprise $20 billion tax cut package.The S&P BSE Sensex Index fell 0.5% on Thursday, set for its fourth day of losses, ending a surge since the Sept. 20 announcement of the tax cuts. Financial stocks, which account for 45% of the benchmark index, contributed the most to the declines since late last week, according to data compiled by Bloomberg.Debt concerns at lenders including Indiabulls Housing Finance Ltd. and a co-operative bank, and worries a cleanup in …read more
Source:: Yahoo Finance
