January 29, 2013 / 5:02 AM / 5 years ago

Sensex falls; banks retreat ahead of RBI review

Reuters Market Eye - The Sensex is down 0.14 percent and the Nifty is down 0.07 percent. Some doubts creeping in about whether the RBI will indeed cut the repo rate by 25 bps as widely expected after a central bank report on Tuesday noted sustained fiscal consolidation was needed to create room for monetary easing.

A broker reacts while trading at a stock brokerage firm in Mumbai November 11, 2008. REUTERS/Arko Datta/Files

State Bank of India (SBI.NS) falls 0.2 percent, while HDFC Bank Ltd (HDBK.NS) is down 0.9 percent.

Among other rate-sensitive stocks, Tata Motors Ltd (TAMO.NS) falls 1.2 percent, while real estate developer DLF Ltd (DLF.NS) is down 1.1 percent.

However, Axis Bank Ltd (AXBK.NS) gains 3.2 percent as dealers cite good demand for its share sale of up to $1 billion.

Reporting by Abhishek Vishnoi

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