Sensex falls; rate-sensitive stocks hit
Reuters Market Eye - The Sensex falls around 0.3 percent. Interest rate-sensitive stocks fall, with Tata Motors Ltd (TAMO.NS) down 2.3 percent and ICICI Bank (ICBK.NS) down 0.9 percent, after the RBI chief was reported by media as saying inflation was "still quite high", denting hopes of a 50 basis points rate cut this month.
"It is a decline from the peak, but it is still quite high," Subbarao was quoted by Dow Jones Newswires as saying about the December data in an address to management students in the northern city of Lucknow on Tuesday.
Shares of software services exporters fall on profit-booking after stronger-than-expected earnings boosted the shares in recent sessions.
Infosys Ltd (INFY.NS) fall 0.5 percent and Tata Consultancy Services (TCS.NS) is down 1.3 percent.
(Reporting by Abhishek Vishnoi)
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The BSE Sensex and Nifty on Friday rose to their second consecutive record highs. The 30-share Sensex surged as much as 1.3 percent to an all-time high of 27,706.80. The broader Nifty gained as much as 1.28 percent to a record of 8,275.15. Full Article