Reuters Market Eye - The BSE Sensex was down 0.21 percent, while the 50-share Nifty loses 0.12 percent. Technology shares were amongst the top decliners with the IT Index down 3 percent.
Provisional data showed foreign investors were net sellers of 6.30 billion rupees in Indian equities on Monday, even as Finance Minister Pranab Mukherjee said the General Anti-Avoidance Rule would be delayed until fiscal 2013/14.
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Ready for Rate Hike
Two years ago India was a "fragile five" economy growing at 5 percent, facing a severe current account deficit and the rupee at record lows as the U.S. Fed Reserve prepared to taper its stimulus programme. Today, two years into the term of RBI Governor Raghuram Rajan, India is set to confidently face the Fed's first rate rise since 2006. Full Article