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MARKET EYE-Indian shares edge lower; views split on rate cut
July 16, 2012 / 9:03 AM / 5 years ago

MARKET EYE-Indian shares edge lower; views split on rate cut

* India's benchmark BSE index falls 0.3 percent, while
the 50-share NSE index declines 0.2 percent, erasing
earlier mild gains. 
* Traders attribute the caution to split views on a potential
rate cut at the Reserve Bank of India policy review on July 31,
after June headline inflation data rose a less-than-expected
7.25 percent in June, but core inflation remained unchanged at
around 4.85 percent from May. 
* Shares of major banks are mixed, with State Bank of India
 up 1.2 percent, but ICICI Bank down 0.2
percent. 
* Property stocks flat to lower, with DLF down 0.1
percent.
* Infosys falls 2.3 percent, after already falling 9.8
percent in the previous two sessions, as the stock continues to 
reel from the company's sharp cut to yearly revenue guidance 
last week. 

 (abhishek.vishnoi@thomsonreuters.com)

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