BSE Sensex erases 2013 gains,down 283 pts, banking,metal stocks hit

State Bank of India shares falls 3.5 percent and HDFC Bank is down 1.2 percent.

Written by Reuters | Published:July 3, 2013 12:24 pm

BSE Sensex falls nearly 283 points,erasing its gains for the year,while the Nifty is down around 80 points.

Worries over an early end to the U.S. stimulus,India’s record current account deficit and a depreciating rupee weigh.


STOCK MARKET LINKS

* BSE Sensex

* NSE Nifty


Banks fall after RBI issued draft guidelines that would require banks to make higher provisions and increase risk weights on exposure to companies that have unhedged foreign-currency exposure.

State Bank of India falls 3.5 percent and HDFC Bank is down 1.2 percent.

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