Indian shares snap three-day rise

Indian shares snapped a three-day rise and fell 0.8 percent on Wednesday, weighed down by waning foreign appetite and worries about the health of some eurozone economies. Jigar Shah, vice-president of equity sales at brokerage Motilal Oswal, said heavy selling by foreign funds over the past few weeks was putting pressure on the market.
Financials led the decline, with the banking sector index shedding 0.8 percent after gaining 1.7 percent over the last three sessions. State Bank of India and ICICI Bank fell 2.1 percent and 1.3 percent respectively. The 30-share BSE index closed down 0.75 percent, or 120.01 points, at 15,922.17. Only eight of its components closed in the green. Data showed foreign funds had pulled out $1.9 billion over the past 11 sessions, pushing the benchmark index down nearly 9 percent this year.