According to Internet Media:
* Profit-taking after sharp rally over past month
* Banks lead decline on inflationary concerns
* Maruti gains after company raises vehicle prices (Updates to mid-morning)
* Banks lead decline on inflationary concerns
* Maruti gains after company raises vehicle prices (Updates to mid-morning)
MUMBAI, April 6 (Reuters) - Indian shares erased early gains and dropped 0.5 percent on Wednesday as high oil prices fueled inflation concerns and triggered profit-taking after a sharp rally since the start of March.
Banking stocks fell after a central bank deputy governor indicated on Tuesday that interest rates may keep on rising as the Reserve Bank of India tries to control inflation.
Largest lender State Bank of India fell 0.5 percent, ICICI Bank lost 0.7 percent, while HDFC Bank was down 1.6 percent. The sector index eased 0.5 percent after rising more than 12 percent in just over a month.
Banking stocks fell after a central bank deputy governor indicated on Tuesday that interest rates may keep on rising as the Reserve Bank of India tries to control inflation.
Largest lender State Bank of India fell 0.5 percent, ICICI Bank lost 0.7 percent, while HDFC Bank was down 1.6 percent. The sector index eased 0.5 percent after rising more than 12 percent in just over a month.
