Indian shares snap 2-day gains; rate sensitive stocks fall
MUMBAI Jan 16 (Reuters) - Indian shares fell on Wednesday snapping two days of gains, led by declines in rate sensitive stocks, such as ICICI Bank, after the central bank chief was reported by media as saying inflation was "still quite high", denting hopes of a 50 basis points rate cut this month.
ICICI Bank Ltd provisionally fell 2.2 percent, while State Bank of India ended 2.6 percent lower.
The BSE index provisionally fell 0.95 percent, while the 50-share NSE index ended down 0.97 percent. (Reporting by Abhishek Vishnoi; Editing by Anand Basu)
- Tweet this
- Share this
- Digg this
- Tendulkar factor adds to pressure on Sindhu
- Taiwan says weather not seen as cause of plane crash that killed 48
- With sales sputtering, Apple's iPad looks to IBM alliance
- Exclusive - Ukraine rebel commander acknowledges fighters had BUK missile
- TransAsia Airways stocks plunge after plane crashes in landing
India is set to offer Nepal a landmark pact to help develop its huge hydro-electric power potential as the South Asian giant takes another step to re-assert influence among smaller neighbours where China has been forging closer ties. Full Article