BSE Sensex closes down by 111 pts as Bharti Airtel, SBI shares drag, Nifty sheds 36
Sectorally, the capital goods sector suffered the most by falling 2.27 per cent, followed by oil and gas index 1.59 per cent, auto index 1.49 per cent and power index 1.25 per cent.
SBI reported a marginal 4.08 per cent increase in net profit at Rs 3,396 crore for the third quarter mainly on account of higher provisioning for bad loans.
"SBI witnessed continued pressures on the asset quality front, as elevated slippages and sequentially lower recoveries resulted in sequential rise in gross NPA levels," said Vaibhav Agrawal, VP Research- Banking, Angel Broking.
Globally, Asian stocks ended higher as investors awaited the G20 meeting of finance and central bank officials for clues about global growth and the role currencies will play in the economies of individual member countries.
Key benchmark indices in Hong Kong, Japan and South Korea rose by 0.18 per cent to 0.85 per cent while Singapore's Straits Times fell 0.32 per cent.
European stock markets were trading lower after reports said French economy shrank more-than-expected in the final quarter of last year. Key benchmark indices in Germany and UK declined by 0.08 per cent to 0.17 per cent while France's CAC inched up by 0.05 per cent on value-buying.
Turning back to the local market, 16 scrips out of 30-share Sensex declined while 14 ended higher.
Major losers were Bharti Airtel (4.02 pc), Wipro (3.33 pc), Maruti Suzuki (3.30 pc), L&T (2.72 pc), RIL (2.63 pc), Tata Motors (2.59 pc), SBI (1.80 pc), ICICI Bank
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