* Both NSE, BSE indexes down 0.18 pct
* Fall in line with Asian markets
* Banking stocks lead losses
Oct 5 Indian shares fell on Wednesday, heading
for their first drop in four sessions, as investors booked
profits in recent outperformers such as ICICI Bank Ltd
and HDFC Bank Ltd after the central bank cut rates on
India's newly minted monetary policy committee delivered a
surprise 25-basis-point cut in the repo rate on Tuesday to 6.25
percent, the lowest since November 2010.
Asian markets also took a hit, with MSCI's broadest index of
Asia-Pacific shares outside Japan falling 0.3
percent, rattled by a media report flagging the possible
withdrawal of the European Central Bank's bond buying programme.
India's broader NSE index fell 0.40 percent on
Wednesday after rising more than 2 percent in the last three
"I don't think there is any weakness in the market; it's a
pure technical correction and normal profit-booking," said R.K.
Gupta, managing director, Taurus Asset Management, adding the
next big trigger would probably be the corporate earnings.
The NSE index was down 0.18 percent at 8,753.25 as of 0623
GMT, while the benchmark BSE index was 0.18 percent
lower at 28,282.21.
The Nifty Bank Index dropped 0.63 percent after
gaining 2.55 percent in the last three sessions. ICICI Bank and
HDFC Bank were among the biggest losers.
Infosys Ltd and HCL Technologies Ltd
fell 1.16 percent and 1.45 percent, respectively, sending the
Nifty IT Index down over 1 percent.
Among the gainers, consumer stocks ITC Ltd and
Hindustan Unilever Ltd rose as much as 0.85 percent and
1.55 percent, respectively.
(Reporting by Darshana Sankararaman in Bengaluru; Editing by