Indian shares post biggest weekly fall in 7 weeks

NEW DELHI, Nov 11 (Reuters): Indian shares posted their biggest weekly fall in seven weeks on Friday, as slower-than-expected domestic industrial output growth and a bleak outlook for financials further dented investor confidence already hurt by the euro zone's troubles. Sluggish quarterly profit at Tata Steel, the world's No. 7 steelmaker, and DLF, India's largest listed real estate developer, also added to the fall in the benchmark index, which ended at its lowest close in three weeks. Tata Steel fell 4 per cent, while DLF shed 2.5 per cent. "We are still looking to overseas markets and not reacting to news within the country...Once we start looking at factors within India, we will lose even more ground," said Arun Kejriwal, strategist at research firm KRIS. "If Europe falls today, it will have a heavy impact on Monday." The main 30-share BSE index closed down 0.97 points at 17,192.82 points, with almost two thirds of its components in the red. The index, which fell as much as 1.5 per cent earlier, lost 2.1 per cent this week-its biggest fall since the week ended Sept 23.