MUMBAI'S Stock Market opened slightly down on Thursday (July 14) in lacklustre trade, a day after three deadly blasts rocked India's commercial capital.
The benchmark 30-share Sensex index on the Bombay Stock Exchange was trading about 81.25 points or nearly 0.5 per cent, lower at 18,514.77.
Indian stocks have been largely down this year, mainly on concerns of slowing growth in industrial activity, high inflation and rising interest rates.
Blasts on Wednesday (July 14) night hit the Gold, Silver, Diamond and jewellery trading hubs of Zaveri Bazaar and the Opera House area in South Mumbai, killing at least 21 and injuring more than 140.
Another explosion struck in the South Central Mumbai district of Dadar.
Analysts said the attacks, the first in the city since the Islamist militant assault in late 2008 that claimed 166 lives – would have little effect on the markets.
"We don't expect much impact from Wednesday's (July 13) blasts," said Jigar Shah of Kim Eng Securities in Mumbai.
"One would not realise that such an event had taken place. The character of the city is such that it never shuts down," he said.
"Macro and global issues are of bigger concern," added Sonam Udasi, the Head of Research with IDBI Capital.
"Investors are more worried that things do not spin out of control in Europe," he said, referring to the Eurozone debt crisis.
