BSE Sensex Falls 20 Sep 2012

The government was considering a partial reduction in diesel prices, but will not offer a U-turn on its retail measures, Congress Party sources told Reuters.

Retailers fall: Pantaloon Retail (PART.NS) down 4.3 percent after falling 4.2 percent on Tuesday when it was hit by profit-taking. Shares surged 27.3 o n Friday and Monday. Shoppers Stop (SHOP.NS) falls 1.7 percent.

Banks fall as any signs of rollbacks on reforms could dent expectations for rate cuts from the RBI: ICICI Bank (ICBK.NS) falls 1.5 percent, while State Bank of India falls 1.1 percent. However, state-owned oil stocks show no reaction to prospects of a rollback in diesel prices given expectations any retracement would be limited.

Oil stocks reacting most after oil prices slumped on Wednesday in one of the biggest sell-offs in more than a year after Saudi Arabia said it would take steps to moderate oil prices. Via

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