Sensex falls on RBI deputy comments

Jun 08, 2012 |

Reuters

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The Sensex falls around 0.6 percent, heading to its first decline in five sessions, as investors book profits in banks after an RBI deputy governor says domestic interest rates not too high to impact economic growth.

The NSE banking index alls 0.9 percent. Banks had surged this week on expectations for rate cuts, with the sub-index up 7.4 percent over the previous 4 sessions. ICICI Bank falls 1.8 percent, while State Bank of India loses 0.9 percent.

Software services exporters also fall on global economy worries. Infosys falls 2 percent.

Lack of clarity from Federal Reserve Chairman Ben on potential U.S. monetary stimulus, worries China will post weak data on Saturday, and concerns about Spanish banking woes hit global risk assets.

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