BSE Sensex falls more than 250 points; banks hit

Reuters Market Eye - The BSE Sensex is down nearly 1.5 percent and the 50-share Nifty slips 1.43 percent, heading towards their biggest single day fall since October 8, 2012.

Domestic shares extend fall, tracking weak regional stocks on market talk of a hedge fund liquidating big global positions in commodities and worries that the U.S. Federal Reserve could wind down its bond-buying programme.

ICICI Bank shares fall 3.3 percent and State Bank of India falls 2 percent after RBI data showed that loan growth continues to remain a concern.

Reliance Industries shares fall nearly 2 percent, retreating after a 3.1 percent surge on Wednesday.

 

ABB shares fall 3 percent after the company reported a 74 percent fall in Oct-Dec net profit at 167.7 million rupees.

(Reporting by Manoj Dharra)