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Sensex Posts Worst Fall in Two Months After RBI's Rate Cut

Indian shares fell more than 2 percent on Tuesday, posting their biggest percentage drop in nearly two months.

Published: 05th April 2016 04:25 PM  |   Last Updated: 05th April 2016 04:29 PM   |  A+A-

Sensex_Fall_Reuters

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India. |Reuters

Indian shares fell more than 2 percent on Tuesday, posting their biggest percentage drop in nearly two months, as investors booked profits in banking stocks after the central bank cut interest rates by a quarter percentage point as widely expected.

The Nifty fell 2.01 percent to end at 7,603.20, while the Sensex dropped 2.03 percent to close at 24,883.59.

Both indexes posted their worst day since Feb. 11.

Lenders, which had surged 15.7 percent in March, slumped, with ICICI Bank and State Bank of India down more than 5 percent each.

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