September 17, 2012 / 8:28 AM / 5 years ago

MARKET EYE-Indian defensive stocks extend falls on reforms, QE3

* Shares in India's defensive sectors extend falls as investors
bet the government's reform measures and Fed's new asset
purchase programme will favour cyclicals and high beta stocks.
 
* Cigarette maker ITC falls 5 percent as of 0822 GMT,
after falling 0.5 percent on Friday.
* Colgate Palmolive India falls 2.3 percent as part of
a 3.7 percent fall in the NSE's fast moving consumer goods
sub-index. 
* Among drug makers, Dr.Reddy's Laboratories falls 3.8
percent, while Ranbaxy Laboratories is down 3.2
percent. 

 (abhishek.vishnoi@thomsonreuters.com)

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