On political worries the Shares Of India Fall
- The BSE index is down 1.45 % while the 50-share NSE index is low 1.6 % .- A key regional ally, the Dravida Munnetra Kazhagam,pulled out of the country's ruling coalition in protest againstthe government's position on a U.S.-backed United Nations resolution on war crimes carried out during Sri Lanka's civilwar.
- The news sent shockwaves through the market that was already under pressure after the central bank disappointed investors with a statement seen as cautious on monetary policy.
- Among blue chip shares leading the fall, Oil and Natural Gas Corporation Ltd falls 3.3 percent, while Larsen & Toubro is down 2.8 percent and Mahindra & Mahindra drops 3 percent.
- Banking stocks are under pressure after the cash reserve ratio was left unchanged at 4.00 percent. ICICI Bank falls 1.8 percent, while State Bank of India is 3 percent lower.
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