BENGALURU, March 14 (Reuters) - Indian shares, on
Tuesday, held the near five-month lows hit in the previous
session as a U.S. banking crisis unnerved investors globally.
The Nifty 50 index was down 0.2% to 17,127, while
the S&P BSE Sensex dropped 0.14% to 58,158.09 as of
09:20 a.m. IST.
The fallout from the collapse of U.S. lenders Silicon Valley
Bank and Signature Bank widened overnight
despite government efforts to shore up confidence, hitting bank
shares globally. Indian banks were among the top
drags, falling 0.4% and 0.7%, respectively, even as analysts
said the country's lenders were insulated from the U.S. banking
crisis.
Meanwhile, India's annual retail inflation rate eased to 6.44% in February from 6.52% in January but stayed
above the Reserve Bank of India's upper threshold for a second
straight month.
Investors will now focus on the U.S. inflation data, due
later in the day, for cues on the rate hike trajectory amid
expectations that the U.S. Federal Reserve could now become less
hawkish given the banking crisis.
($1 = 82.2350 Indian rupees)
(Reporting by Nishit Navin in Bengaluru; Editing by Eileen
Soreng and Janane Venkatraman)
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
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