(Reuters) - Indian shares fell more than 1 percent on Friday after stronger-than-expected consumer inflation data raised the prospect the Reserve Bank of India would keep interest rates on hold, sending lenders such as State Bank of India sharply lower.
The broader NSE Nifty closed 1.08 percent lower at 7,814.90, while the benchmark BSE Sensex ended down 1.17 percent at 25,489.57.
But both indexes posted their first weekly gain in three, on earnings results which have so far proven resilient. Both indexes gained 1 percent for the week.
SBI shares fell 1.9 percent on Friday.
(Reporting by Aastha Agnihotri in Bengaluru; Editing by Subhranshu Sahu)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app