Sensex falls over 400 points; GDP dashes rate cut hopes

Lenders like ICICI Bank reel after economic growth data came in line with expectations

The Nifty fell as much as 2.1% on Friday as lenders such as ICICI Bank Ltd reeled after economic growth data came in line with expectations, dashing hopes the RBI would cut interest rates next month. The BSE Sensex was down around 400 points.

The Nifty fell to as low as 5,998.05 points and was down 2% at 2.39 p.m. The Sensex fell as much 2% and was down 1.9%.

ICICI Bank fell 2.3%.