Sensex down over 200 points; Infosys, ICICI fall

Reuters Market Eye - The Sensex and Nifty are down more than 1 percent in trade. Developments in the Korean peninsula and U.S. jobs data due on Friday which will likely signal slowing U.S. growth, are overseas cues being closely watched.

Continued domestic political uncertainty and worries about early elections after the withdrawal of a key regional ally from the ruling coalition last month are weighing on investor sentiment.

Foreign investors were provisional net sellers worth 3.68 billion rupees of stocks on Wednesday, exchange data showed.

Indian banks' advances grew at a slower pace in 2012/13 compared with a year earlier, and fell short of the central bank's projection, hurt by lower demand for credit from companies in a slowing economy.

 

ICICI Bank is down 2.17 percent, HDFC Bank is down 0.8 percent while State Bank of India is down 1.8 percent.

Technology share also fell tracking weak U.S equities: Infosys shares fall 2.65 percent while Tata Consultancy Services is 2.63 percent lower at 1:15 p.m.

(Reporting by Manoj Dharra)