BSE Sensex falls banks, Infosys hit

SENSEX-BANKS-INFOSYS-NIFTY:BSE Sensex falls banks, Infosys hit

 

Reuters Market Eye - The BSE Sensex falls 0.43 percent, while the 50-share Nifty declines 0.57 percent. Falls track weaker Asian shares, which retreated from a two-week high as investors scaled back expectations for strong stimulus from the U.S. Federal Reserve.

Banks among the leading decliners after the RBI again indicated reluctance to cut interest rates despite slowing growth in its annual 2011/12 report.

ICICI Bank shares fall 1.4 percent while State Bank of India declines 1 percent.

Reliance Industries down 0.9 percent, continuing to be hit by concerns about lower refining margins.

Infosys retreats 1.1 percent, after gaining 7 percent over the previous four sessions, on rising hopes for the global economy.

An uproar in parliament over potential corruption in the sale of coal concessions to private companies is also raising fears of a delay in policy reforms.