BSE Sensex, NSE Nifty plunge as data hits RBI interest rate cut hopes
Reuters: Mar 12 2013, 13:47 IST
With the economic data cancelling out hopes of a RBI interest rate cut, the markets were southward bound. BSE Sensex was down 0.49 percent, while the 50-share NSE Nifty fell 0.63 percent.
* Stocks sensitive to interest rates fall after better-than-expected factory data and accelerating consumer inflation pare some of the rate cut hopes for the RBI's policy review on March 19.
* ICICI Bank shares falls 1.2 percent, while HDFC Bank Ltd is down 2.2 percent
* January industrial production rose at a stronger-than-expected 2.4 percent from a year earlier, while CPI rose 10.91 percent from 10.79 percent in January.
* IT stocks fall for a second day on profit-booking after last week's rally.
* Tata Consultancy Services falls 0.8 percent while Infosys is down 0.9 percent.
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