Banks hit 3-1/2 month low on global risk aversion

Tags: Banks, Companies
The Bank Nifty fell as much as 2 percent to its lowest since October,

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heading towards a sixth consecutive losing session, as part of a rout in emerging markets.

Banks have been among the worst hit this week after the Reserve Bank of India unexpectedly raised interest rates.

Falls were led by ICICI Bank, which lost 2 percent, and HDFC Bank, which was down 1.6 percent.

The Nifty was down 1 percent.

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