Sensex falls; rate-sensitive stocks hit

Wed Jan 16, 2013 11:23am IST

People watch a news channel displayed on a large screen on the facade of the Bombay Stock Exchange building, February 28, 2007. REUTERS/Arko Datta/Files

People watch a news channel displayed on a large screen on the facade of the Bombay Stock Exchange building, February 28, 2007.

Credit: Reuters/Arko Datta/Files

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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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