BSE Sensex falls; ITC, ICICI Bank decline

Reuters Market Eye - The BSE Sensex is down 0.09 percent and the 50-share Nifty is also down 0.15 percent.

With the Lunar New Year holiday shutting most Asian financial centres, including those in Japan, China, Hong Kong, Singapore and South Korea, trading was light and potentially volatile on those exchanges that remained open.

ITC falls 1.6 percent on profit-taking, while banking stocks such as ICICI Bank fell on continued concerns on India's economic growth after government estimates on Friday showed India's FY13 growth could be worse than expected.

Traders say chances of a relief rally look bright as the BSE Sensex fell for a seventh day to mark its biggest losing streak since November, 2011, on Friday.

 

(Reporting by Abhishek Vishnoi)