Print Edition - 2017-01-03  |  Money Digest

Sensex, Nifty edge down

- Reuters, MUMBAI

Jan 3, 2017-

Indian shares fell around 0.5 percent in thin trade on Monday in the first trading session of 2017, as banks fell on worries their profitability would be hit after reducing lending rates. State Bank of India cut its so-called marginal cost of funds-based lending rate by 90 basis points across maturities on Sunday. Other lenders also announced cuts. The Nifty was down 0.51 percent at 8,144 as of 0537 GMT, erasing early gains, while Sensex was 0.57 percent lower at 26,473.59. The NSE bank index fell as much as 1.83 percent in its biggest fall since Dec 7. 

Published: 03-01-2017 09:02

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