Sensex volatile; Tata Motors, Bharti Airtel gain

Reuters Market Eye - The Sensex and the Nifty are volatile. Tata Motors Ltd up 1.4 percent after media reported its unit Jaguar Land Rover reported its highest UK sales at 17,773 units, up 20 percent on year.

Bharti Airtel Ltd up 2.2 percent ahead of a Supreme Court hearing on a petition by Chairman Sunil Mittal seeking to overturn a lower court order that asked him to appear before the court in a spectrum allocation corruption case.

Jindal Steel & Power Ltd down 1.6 percent after the company said its holding company has pledged company shares with the Singapore unit of Credit Suisse. The steel company did not disclose the amount in its filing after market hours on Friday.

 

Foreign funds sold shares worth 8.97 billion rupees in the previous three sessions, provisional exchange data showed, amid worries about the domestic economy, and on lingering concerns about political stability.

India's current account deficit is unsustainable at its present level of about 5 percent of gross domestic product (GDP), RBI chief D. Subbarao said on Saturday, adding that a deficit of about 2.5 percent of GDP would be sustainable.

(Reporting by Subhadip Sircar)