India: Markets shiver as banks dump blue chips.

MUMBAI, Feb. 27. THE stock markets wobbled on the Union Budget eve as many local and foreign banks, which were aggressive lenders against shares, turned sellers, dumping mainly technology stocks and other 'A' group shares.

Banks unloaded blue chips pledged with them by borrowers to protect their portfolios which led to a near-chaotic situation in the market and nervousness among investors, fund managers said.

Banks pressed hit-sell technology counters such as Zee Telefilms, Global …