Don’t miss the latest developments in business and finance.

Sensex erases 2013 gains; banking, metal stocks hit

Image
Reuters
Last Updated : Jul 03 2013 | 12:25 PM IST

Reuters Market Eye - The BSE Sensex falls nearly 270 points, erasing its gains for the year, while the Nifty is down around 80 points.

Worries over an early end to the U.S. stimulus, India's record current account deficit and a depreciating rupee weigh.

Banks fall after RBI issued draft guidelines that would require banks to make higher provisions and increase risk weights on exposure to companies that have unhedged foreign-currency exposure.

State Bank of India falls 3.5 percent and HDFC Bank is down 1.2 percent.

(Reporting by Abhishek Vishnoi)

More From This Section

First Published: Jul 03 2013 | 12:08 PM IST

Next Story