Trading on India's Bombay Stock Exchange and National Stock Exchange markets will remain closed on Thursday (November 27), a spokesman for India's capital markets regulator said, after a series of attacks killed at least 101 people in the financial capital Mumbai.

The attacks raised fears of a steeper fall in the rupee and a further blow to market confidence. But as traffic ground to a halt in south Mumbai, where the central bank and several financial institutions are located, it appeared the earliest indications of how anxious investors were would be known only on Friday.

Mumbai, the financial capital of India, experienced one of the most diabolic terror attacks which killed about 100 people besides injuring 287 on Wednesday (November 26) night. Dead include 6 foreign tourists and three top police officers. ATS chief Hemant Karkare is also among those killed. The suspected terrorists were reported to have taken tourists and other guests hostage in two five-star hotels, the Taj Intercontinental and Trident (formerly Oberoi) near the Gateway of India.

Police sources informed that small groups of heavily armed terrorists had attacked the busy public places of south Mumbai on Wednesday night. The terrorists fired indiscriminately in certain places. They also executed powerful bomb blast at Vile Parle where a taxi was blown off killing five people. The terrorists opened fire at police and paramilitary forces outside the Taj between 10.15 pm and 10.30 pm. They also opened indiscriminate firing near the CST, which remains crowded almost throughout the day.