Sensex Down over 100 Points; ICICI Bank Falls

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January 6, 2014 7:18 PM EST

The BSE Sensex and the Nifty are down around 0.5 percent each, heading for a fourth consecutive day of decline. It would also mean domestic shares have retreated in each trading session of 2014.

Reuters
People watch a large screen displaying Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai December 9, 2013.

Losses track lower Asian shares after growth in China's services sector slowed sharply last month, raising concerns about the pace of recovery in the world's second-largest economy.

Foreign institutional investors sold 6.08 billion rupees worth of index futures on Friday, dampening sentiment.

Overseas investors also sold shares worth 180 million rupees on Friday, provisional exchange data shows.

At home, the HSBC Services Purchasing Managers' Index, compiled by Markit, fell to 46.7 in December from 47.2 in November as new orders dwindled, although firms hired at their fastest pace in five months.

Among shares of blue chips, ICICI Bank (ICBK.NS) falls 2.2 percent, while Reliance Industries (RELI.NS) is down 1.3 percent.

Traders are reducing positions ahead of Infosys's (INFY.NS) quarterly earnings on January 10 and inflation data mid-month.

(Photo: Reuters / )
People watch a large screen displaying Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai December 9, 2013.
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