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"owned banks, realty stocks fall on RBI's guidance    * Axis Bank shares gain; stake sale attracts strong demand    By Abhishek Vishnoi    MUMBAI, Jan 29 (Reuters) - Indian shares fell to a one-weeklow on Tuesday, led by a decline in rate-sensitive stocks suchas HDFC Bank, after India's central bank lowered its key policyrate, but made further rate cuts conditional on government movesto control fiscal deficit.    The Reserve Bank of India cut the policy repo rate by 25 basis points and even unexpectedly reducedthe cash reserve ratio (CRR), to help support aneconomy set to post its slowest annual growth rate in a decade.     The central bank stressed that halting a slide in growth hadbecome critical, but it went on to list constraints, notablyworryingly high current account and fiscal deficits, and therisk that inflation could flare again.     Analysts said the government's action around the budget isimportant to predict the near-term movement of the markets.    &amp;quot;Policy was broadly in-line with market expectations, butthere has been a sense of caution mainly due to widening currentaccount deficit and inflation,&amp;quot; said Kaushik Dani, Fund Managerat Peerlees Mutual Fund.    &amp;quot;The way budget pans out will determine how RBI formulatesits March policy,&amp;quot; added Dani.        The benchmark BSE index fell 0.56 percent, or112.45 points, to end at 19,990.90, closing below thepsychologically important 20,000 mark.    The broader NSE index fell 0.41 percent, or 24.90points, to end at 6,049.90, marking its lowest close in a week.    RBI's caution comes ahead of what is expected to be avolatile week, with continued earnings results and the expiry ofderivatives on Thursday, while the Federal Reserve is set toconclude its two-day meeting on Wednesday    Rate-sensitive stocks fell after the RBI made further ratecuts conditional on government's efforts towards fiscalconsolidation, making hopes of aggressive easing cycle this yearhighly improbable.    Among banking stocks, HDFC Bank fell 2.7 percent ,while State Bank of India ended 1.2 percent lower.    Real estate developer DLF fell 1.2 percent, whileTata Motors fell 1.4 percent.    Oil and gas stocks declined on profit-taking, with Oil andNatural Gas Corp Ltd falling 0.5 percent, havinggained 25 percent in January after the government's move toallow higher diesel prices and due to expected changes to gaspricing.     Reliance Industries fell 1.6 percent, marking itsfourth day of losses, on fresh concerns over its gas output fromKG D6 block, dealers say.     Century Textiles &amp; Industries Ltd shares ended 3.9percent lower after the company reported a loss of 291.9 millionrupees in Oct-Dec earnings.      However, among stocks that gained, India's Axis Bank ended 4.4 percent higher as dealers cited good demandfor a share sale of up to $1 billion.     Adani Ports and Special Economic Zone Ltd rose 6.6percent after the company said it would sell a majority stake inAustralia's Abbot Point port to the Adani family.     Adani Port's stake sale in its Australian port would reducethe Indian company's consolidated debt by around 110 billionrupees ($2.04 billion), while the reinvestment of the cash flowsfor domestic growth opportunities would be a positive, brokerageEdelweiss says in an email to clients.    Idea Cellular shares ended 0.9 percent higherahead of earnings, later in the day.         For additional stocks on the move double click               FACTORS TO WATCH                                             * Euro steadies vs dollar, scope for rally to resume      * Brent holds steady above $113 on positive U.S. data      * Shares, oil steady before U.S. data, Fed meeting   * Foreign institutional investor flows          * For closing rates of Indian ADRs                                                 ASIA-PACIFIC STOCK MARKETS:                                  Pan-Asia........ Japan.......   S.Korea... S.E. Asia.......        Hong Kong...  Taiwan.... Australia/NZ....        India.......  China.....                            OTHER MARKETS:                                               Wall Street ....         Gold ....... Currency.. Eurostocks.....         Oil ........  JP bonds... ADR Report .....       LME metals. US bonds.. Stocks News US.. Stocks News Europe                               DIARIES &amp; DATA:                                              Indian Data Watch   Asia earnings diary U.S. earnings diary     European diary       Indian diary          Wall Street Week Ahead  Eurostocks Week Ahead                                                               TOP NEWS:                                                       For top Asian company news, double click on:          U.S. company news  European company news     Forex news        Global Economy news     Technology news  Telecoms news           Media news       Banking news              Politics/General    Asia Macro data       (Additional reporting by Manoj Dharra; Editing by Anand Basu)"^^<http://www.w3.org/2001/XMLSchema#string>
<http://in.reuters.com/article/india-markets-stocks-close-idINL4N0AY3WJ20130129>