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Bad day for banking stocks

January 27, 2011
It was not a good day for banking counters, as the markets slipped more than 250 points in Thursday.
State Bank of India and ICICI Bank dropped nearly 1 percent and 2.1 percent respectively, while HDFC Bank closed 1.7 percent lower.
Financials led the decline in the markets, as expectations for another rate increase in the next two months after the RBI’s recent move weighed on sentiments.
Is this the right time to enter banking stocks?

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