Indian shares snap 2-day gains; rate sensitive stocks fall

MUMBAI Wed Jan 16, 2013 3:39pm IST

Related Topics

Stocks

   

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Canada Shooting

Canada Shooting

Attack on parliament, killing of soldier stun Canada's capital.  Full Article 

Earnings Season

Earnings Season

Wipro sees rosier end to year as U.S. clients spend.  Full Article 

Business Climate

Business Climate

Fears for tough penalties grow as India cleans up business  Full Article 

New Email Service

New Email Service

Google launches new email service dubbed "Inbox".  Full Article 

DLF Appeals

DLF Appeals

DLF seeks interim relief from capital market ban  Full Article 

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Book Keeping

Book Keeping

RBI fires warning shots on companies' lack of FX hedging.  Full Article 

Policy Repo Rate

Policy Repo Rate

Most external members suggested rate cut in RBI's Sept review.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage