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Sensex Falls On RBI Deputy Comments

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The Sensex falls around 0.6 per cent, heading to its first decline in five sessions, as investors book profits in banks after an RBI deputy governor says domestic interest rates not too high to impact economic growth.

The NSE banking index alls 0.9 per cent. Banks had surged this week on expectations for rate cuts, with the sub-index up 7.4 per cent over the previous 4 sessions. ICICI Bank falls 1.8 per cent, while State Bank of India loses 0.9 per cent.

Software services exporters also fall on global economy worries. Infosys falls 2 per cent.

Lack of clarity from Federal Reserve Chairman Ben on potential U.S. monetary stimulus, worries China will post weak data on Saturday, and concerns about Spanish banking woes hit global risk assets.