The BSE Sensex fell on Thursday for the first session in five as lenders retreated after State Bank of India cut auto and home loan rates for new borrowers, sparking worries other lenders would follow suit and hit margins in the sector.
Sentiment was also broadly weak on fading hopes for monetary stimulus from the European Central Bank later in the day, after the U.S. Federal Reserve stopped short of action on Wednesday.
State Bank of India fell 1%, while HDFC Bank lose 0.7%
The 30-share BSE Sensex provisionally fell 0.19 percent to 17,223.84 points.
The 50-share Nifty provisionally fell 0.24 percent to end at 5,227.90 points.
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