BSE Sensex edges lower Bharti extends rout, SBI hit

BSE-SENSEX-BHARTI-AIRTEL-SBI-RANBAXY-TATA:BSE Sensex edges lower Bharti extends rout, SBI hit

The BSE Sensex lower on Thursday after industrial output unexpectedly slumped, exacerbating concerns about economic growth, while mobile carrier Bharti Airtel and drug maker Ranbaxy were routed after poor quarterly earnings.

Industrial output shrank 1.8 percent, dragged down by a fall in manufacturing activity, data on Thursday showed.

Bharti Airtel shares slumped 6.3 percent, dropping for a second day as banks including Goldman Sachs and Standard Chartered cut their ratings on India's top telecoms carrier in the wake of disappointing quarterly earnings.

Ranbaxy Laboratories dropped 2.5 percent after posting a net loss, while State Bank of India fell 4.3 percent, on worries the country's biggest lender would post disappointing earnings on Friday.

 

The Sensex ended down 0.11 percent at 17,580.98 points, while the 50-share Nifty fell 0.28 percent lower at 5,322.95 points.