Stockstrokes Stock Market News On 15th Mar 2013

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Delhi, India (prHWY.com) March 19, 2013 - The Sensex fell on Friday 15th Mar,as private sector lenders were hit after the government and the RBI said that they would investigate allegations of money laundering practices,while S&P's comments that weaker growth was constraining ratings also weighed.

ICICI Bank fell 3.8 %, while HDFC Bank ended 1.1 % lower.

*The finance ministry P Chidambaram and the RBI are investigating allegations of money laundering practices at top private sector lenders ICICI Bank, HDFC Bank and Axis Bank.
*ICICI Bank Ltd, HDFC Bank Ltd, and Axis Bank Ltd said on 14th March, they were investigating the allegations but defended their internal controls aimed at preventing money laundering.

Shares of the three lenders fell on Friday with ICICI Bank down 4%, HDFC Bank down 1.7%, and Axis Bank down 0.9%.

Shares of the three lenders fell briefly on Thursday 14th March but recovered to end the session with gains following lower-than-expected core inflation data.

The Sensex provisionally fell 0.78 per cent, while the Nifty ended down 0.57 per cent.

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