Provisional: Markets fall for 8th straight session

Bank shares dropped after the Reserve Bank of India said on Friday the central bank would roll back recent cash tightening measures only when rupee stabilises.

Markets ended lower for eighth straight trading session this Friday on back of selling pressure witnessed in rate-sensitive shares as investors remained uncertain as to when the central bank will rollback its short-term rate hike aimed to curb rupee’s fall.

 

On a provisional basis, the 30-share Sensex dropped 153.75 points to close at 19,163.44 while Nifty declined 49.40 points at 5,678.45.

 

Bank shares dropped after the Reserve Bank of India Governor Duvvuri Subbarao said on Friday the central bank would roll back recent cash tightening measures only after it determines stability has been restored in the foreign exchange market.