Bajaj Auto falls 2.3 pct, while Bharti Airtel is down 1.3 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.
Separately, UBS downgrades Bajaj Auto to “sell” from “neutral”, saying falling emerging market currencies would impact margins.