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BSE Sensex falls for second day, Raghuram Rajan macro event awaited

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The benchmark BSE index fell 0.25 percent while the broader NSE index ended almost flat. Reuters The benchmark BSE index fell 0.25 percent while the broader NSE index ended almost flat. Reuters
SummaryITC Ltd shares fell 1.9 percent while ICICI Bank Ltd ended 1.7 percent lower.

on tapering of the quantitative easing measures will be closely watched. The first meeting of the RBI under the new Governor will also be an important trigger for the market, especially the decision on interest rates.

Any decision by the US Fed to taper the bond buying program, may have an impact on the global liquidity. We believe that, some tapering off is already priced in and to that extent, if the actual amount of taper matches expectation, it may not be taken negatively by the markets.

BSE Sensex down 49 points at 19,732.76 in choppy trade

(Reuters) BSE Sensex fell for a second day on Friday as blue chip shares including ITC Ltd declined after the Prime Minister's economic panel said it would be a challenge for the government to meet its fiscal deficit target in the current year.

India's new Reserve Bank of India (RBI) chief Raghuram Rajan to detail his first monetary policy review on Sept. 20 with focus squarely on whether the cbank will partly or wholly reverse its cash tightening steps or give an indication on when they might be rolled back.

ITC Ltd shares fell 1.9 percent while ICICI Bank ended 1.7 percent lower.

Also, traders lightened positions ahead of the whole price inflation data on Monday and the US Federal Reserve's decision on stimulus tapering, as well as RBI policy review later next week.

The benchmark BSE Sensex fell 0.25 percent while the broader NSE Nifty ended almost flat.

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