Indian shares tumbled on Thursday, mirroring weak Asian cues after Federal Reserve Chairman Ben Bernanke signaled the central bank could begin reducing its monthly bond-buying program later this year, with the goal of ending it entirely in mid-2014 if economic conditions warrant. Additionally, a private survey showed that China's manufacturing activity shrank at a faster pace to a 9-month low in June, stoking concerns about the outlook for global growth.
The benchmark BSE Sensex is currently down 385 points or 2 percent to 18,861, while the broader Nifty index is at 5,697, down 125 points or 2.15 percent from its previous close. The Indian rupee is trading weak at a record low of 59.94 per dollar.
Bharti Airtel is losing 1.9 percent as the telecom major unveiled plans to invest $125 million in Gabon to develop the 3G and 4G network in the central African country. Also, the company slashed its 2G internet data usage charges by 90 percent in some circles, intensifying the price war among telecom players.
Metal stocks such as Coal India, Hindustan Zinc, JSW Steel, SAIL, Sterlite, Tata Steel, Hindalco and Jindal Steel are down 2-4 percent on concerns over China's economic growth. Sintex Industries is tumbling 3.5 percent after the National Stocks Exchange decided to exclude the stock from the F&O segment with effect from August 30, 2013.
Ranbaxy Laboratories is edging down marginally after the EU anti-trust commission imposed fines totaling 146 million euros on nine global pharma companies, including the company, for delaying market entry of a cheaper anti-depressant.
Ramco Systems is rallying 3 percent after it signed a pact with the Franco-German-Spanish Eurocopter Group to provide cost-efficient fleet management services for helicopter operators.
Tourism Finance Corporation of India is climbing 13.6 percent after its board approved a proposal to seek license from the Reserve Bank of India for setting up a bank.
Tata Teleservices is gaining 6 percent, extending Wednesday's 10 percent rally, after the company said it would issue bonus shares, with the promoter group foregoing their entitlement to the bonus shares, in order to comply with market regulator SEBI's minimum public shareholding norms.
Indian shares rose on Wednesday amid optimism the U.S. Federal Reserve would reaffirm its commitment to keep interest rates lower to boost the world's largest economy. The BSE Sensex and the Nifty closed up about 0.1 percent each, reversing earlier losses.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.