MARKET EYE-Indian shares down; banks drop

Thu Feb 21, 2013 9:59am IST

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Stocks

   

* The BSE index falls 0.86 percent and the 50-share NSE
index slips 0.82 percent.
* Domestic shares fall in line with weak global shares that fell
 on market talk that a hedge fund had been liquidating large
positions in commodities, as well as worries the Federal Reserve
could slow its bond buying program. 
* The MSCI's broadest index of Asia-Pacific shares outside Japan
 tumbles 1.8 percent, Hong Kong shares 
slides 1.6 percent while Tokyo's Nikkei stock average 
falls 1.26 percent.
* Bank shares lead the falls a day after RBI data showed that
loan growth continues to remain a concern. ICICI Bank 
shares fall 1.6 percent while State Bank of India falls
0.8 percent.
* Banks' advances grew 8.7 percent so far this fiscal year,
compared with 11.2 percent a year earlier, while deposit growth
was 7.8 percent compared with 11.4 percent in the same period a
year earlier. 
* Shriram Transport Finance Co Ltd shares sink 7
percent after U.S. private equity firm TPG Capital 
planned to sell part of its stake in the company to raise about
$300 million, according to a term sheet seen by
Reuters. 

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)
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