Sensex falls 167 points; bank stocks take a hit

The BSE Sensex fell about one per cent on Friday and the NSE's Nifty closed below its 200-day moving average for the first time in nearly three weeks as banks declined after RBI chief's comments on inflation being still high.

The Sensex fell 0.84 per cent, or 166.58 points, to end at 19,727.27, also falling 2.6 per cent for the week, marking its first weekly fall in five. Nifty declined 0.83 per cent, or 49.05 points, to end at 5,833.20, also falling three per cent for the week, closing below its 200-day moving average for the first time since September 6.

ICICI Bank fell 2.4 per cent, while HDFC Bank lost two per cent. Among state-owned banks, State Bank of India fell 2.1 per cent, while Bank of Baroda ended 1.6 per cent lower. In non-banking lenders, Housing Development Finance Corp fell 1.1 per cent, while LIC Housing Finance ended 2.9 per cent lower.