Sensex edges lower banks hit again

SENSEX-EDGES-LOWER-BANKS-HIT-AGAIN:Sensex edges lower banks hit again

 

Reuters Market Eye - The Sensex falls around 0.17 percent, while the Nifty declines 0.26 percent. The NSE's banking index heads for a fourth day of losses, on continued worries about weakening economic growth at a time when parliament remains deadlocked.

The sub-index dropped 3.1 percent over the previous three sessions versus a 1.2 percent fall in the Nifty.

India's economy is expected to have grown 5.3 percent in the April-June quarter, unchanged from January-March, according to a Reuters poll of 38 economists.

BNP Paribas downgrades Indian stocks to "neutral" from "overweight", saying policy reforms may be delayed until after general elections in 2014 due to a deadlocked government and high inflation.

ICICI Bank falls 0.5 percent, while HDFC Bank falls 1 percent.

Wockhardt drops 4.1 percent, after being names among the 74 stocks the Bombay Stock Exchange has mandated as having to settle on a trade-to-trade basis, forcing buyers and sellers to square the trade after each transaction.