Sensex falls SBI hit by loan rate cut reports

SENSEX-FALLS-SBI-HIT-BY-LOAN-RATE-CUT-REPORT:Sensex falls SBI hit by loan rate cut reports

singapore  August 2, 2012, 10:25 IST

singapore  08 02, 2012, 10:30 IST

 

 

Reuters Market Eye - The Sensex falls 0.2 percent, while the Nifty falls 0.3 percent. Falls track easing in Asian shares after the Fed refrains from further monetary stimulus measures and ahead of the ECB meeting later in the day.

State Bank of India falls 0.8 percent on media reports India's biggest lender has cut home and auto loan rates for new borrowers.

Other lenders also weaken: HDFC Bank is down 0.7 percent.

Coal India falls 1.4 percent, extending Wednesday's falls, after U.K. fund The Children's Investment Fund Management filed a writ petition in the Delhi High Court saying the state miner was directed to reverse a price hike from the government.