Financial stocks push Sensex into the red; HDFC biggest drag

Indian shares fell on Thursday, with financials accounting for nearly half of the losses after the rupee fell to a fresh low against the dollar.

HDFC was the biggest drag with a drop of 2.5 percent, followed by Kotak Mahindra Bank, which fell to its lowest since early May after the central bank said on Tuesday that its preference shares issue to dilute promoter shareholding was not acceptable.

Reliance Industries ended 0.9 percent lower after the oil-to-telecom behemoth declared force majeure on gasoline exports from its Jamnagar site.

The broader NSE Nifty fell 0.4 percent to 11,385.05, while the BSE Sensex declined 0.5 percent to 37,663.56.

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