Indian shares fall ahead of rate decision; tech stocks hit
MUMBAI Dec 17 (Reuters) - Indian shares fell on Monday, led by declines in technology stocks such as Tata Consultancy Services on caution ahead of a scheduled meeting between the management and analysts later in the day amid concerns the software services provider will deliver a downcast view on the sector.
Tata Consultancy Services provisionally fell 3 percent, while Infosys ended 0.9 percent lower.
The BSE index provisionally fell 0.38 percent, while the 50-share NSE index ended down 0.39 percent.
However, rate-sensitve stocks such as State Bank of India NS> rose 0.9 percent, ahead of the RBI's meet on Tuesday, on hopes of a cut in cash reserve ratio. (Reporting by Abhishek Vishnoi; Editing by Sunil Nair)
- Tweet this
- Share this
- Digg this
Trending On Reuters
Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. Full Article