Retail Companies Stocks Climbed Over 11 Percent

The Indian rupee fell to its lowest in nearly a week on Thursday as a key ally of the country's ruling coalition withdrew its support, raising worries the government may roll back big ticket reforms such as the hike in diesel prices.

Prime Minister Manmohan Singh's government is widely expected to survive the blow to its parliamentary strength. However, the planned withdrawal by the Trinamool Congress, which is opposing the diesel and retail reforms announced last week, will put the fate of the government in the hands of smaller parties.

Investors are worried India will retreat on some of its measures and fear the political crisis could threaten future reforms in sectors such as pension and insurance, although for now they expect the government to hold its ground.

The partially convertible rupee ended at 54.3850/3950 to the dollar from its Tuesday close of 54.01/02. Markets were closed on Wednesday because of a religious holiday. Via

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