Bajaj Auto, Bharti Airtel fall after Nigeria devalues naira

Reuters Market Eye - Bajaj Auto falls 1.4 pct, while Bharti Airtel is down 2.4 pct.

Nigeria's central bank devalued the naira by 8 percent and raised interest rates sharply on Tuesday.

Nearly 12 percent of Bajaj Auto's revenues come from Nigeria - analysts.

Bharti Airtel entered Africa in 2010 by acquiring loss-making telecoms operations for $9 billion, funded by debt.

Nigeria is Bharti Airtel's biggest market in Africa.

UBS downgrades Bajaj Auto to "sell" from "neutral", saying falling emerging market currencies would impact margins.

(Reporting by Abhishek Vishnoi)