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Indian shares snap 4-day rising streak; IT, rate-sensitives fall

Source : REUTERS
Last Updated: Mon, Mar 11, 2013 10:20 hrs

MUMBAI, Mar 11 (Reuters) - Indian shares snapped a 4-session gaining streak on Monday as technology stocks fell on profit-booking, while shares sensitive to interest rates fell after the central bank governor rejected that high inflation is the "new normal."

Reserve Bank of India Gov. Duvvuri Subbarao rejected the notion that high inflation is the "new normal" in comments on Friday, raising concerns the central bank could remain hawkish about interest rates.

Tata Consultancy Services Ltd provisionally fell 1.4 percent, while ICICI Bank ended down 1.1 percent.

The BSE index provisionally fell 0.38 percent, while the 50-share NSE index ended down 0.06 percent. (Reporting by Abhishek Vishnoi; Editing by Rafael Nam)




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