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BSE Banking Index dips

December 9, 2010


The BSE Sensex fell 2.3 percent on Thursday, with banking shares leading losses as fears of foreign funds’ withdrawals in the absence of any positive trigger weighed on investors’ minds.

State Bank of India and ICICI Bank led the decline in the broader market, dropping 4.3 percent and 4.4 percent respectively.

Shares in the banking index have gained over 20 percent so far this year, but any further monetary action by the Reserve Bank of India will weigh on the sector.

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