Sensex falls 1.1% erasing its gains

Mumbai  July 3 – The BSE Sensex falls 1.1 per cent, erasing its gains for the year, while the Nifty is down 1.04 per cent.

 

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

 

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.

 

TOI