Indian shares posted their first weekly fall in 2012 on Friday, sliding 2 per cent over five sessions, as investors booked profits on renewed worries about rising global oil prices and the country's widening fiscal deficit. Lenders such as State Bank of India, ICICI Bank and HDFC Bank were the big losers, as expectations for a rate cut in March were tempered by the rally in global oil prices, which could make it difficult for the central bank to ease policy. Leading mortgage lender Housing Development Finance Corp fell as much as 6.2 per cent after Citigroup Inc sold its entire stake in the company for about $1.9 billion.
Source: Economic Times
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