Indian shares end down; banks fall

Published Sep 03, 2012 10:28am

An Indian man watches a screen on the facade of the Bombay Stock Exchange. — AP Photo
An Indian man watches a screen on the facade of the Bombay Stock Exchange. — AP Photo

MUMBAI: Indian shares provisionally fell on Monday as investors discounted deferment of proposed anti-tax avoidance rules, choosing to concentrate on macroeconomic woes like the fiscal and trade deficit.

India's fiscal deficit during the April-July period rose to 2.64 trillion Indian rupees or 51.5 per cent of the full fiscal year 2012/13, government data showed on Friday.

Banking shares continued their Friday's slide, after stronger-than-expected GDP dashed hopes for rate cuts. HDFC Bank shares fell 1.18 per cent, while Reliance Industries ended one per cent lower.

India's benchmark BSE index fell 0.4 per cent, while the 50-share NSE index fell a 0.09 per cent.


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