Indian shares ended in the red for a second day in a row on Thursday, as negative Asian cues prompted investors to stay on the sidelines on the settlement day of February series derivative contracts. European shares rose for the first time in three days, spurring a short-lived recovery in the afternoon session.
With traders squaring off positions on the expiry of F&O contracts, the benchmark 30-share Sensex moved in the range of 18,005- 18,250 before ending down 67 points or 0.37 percent at 18,079.
The 50-share Nifty index fell by 22 points or 0.4 percent to 5,483 and the BSE mid-cap and small-cap indexes ended down 0.6 percent and 0.9 percent, respectively.
The government will endeavor to raise the economic growth rate to 7.5-8 percent in the next fiscal from about 7 percent currently, finance minister Pranab Mukherjee said, a day after the Prime Minister's Economic Advisory Council (PMEAC) pegged growth over 7 percent in 2012 and 7.5-8 percent for 2013.
Bharti Airtel tumbled 2.6 percent after South Africa-based Econet Wireless sought at least $3.1 billion in damages from the telecom major in a dispute over ownership of its subsidiary Airtel Nigeria. Hero MotoCorp lost 2.7 percent after signing a technology-sharing deal with U.S. motorcycle firm Erik Buell Racing.
Sterlite Industries extended declines, falling 4.1 percent on merger reports. Reliance Power shed 1.6 percent after competition watchdog CCI approved the merger of Sasan Power Infrastructure with its parent firm Reliance Power.
DB Realty slumped 5.1 percent on reports Dubai-based telecom operator Etisalat would shut down the operations of its telecoms joint venture with the Indian company. Subex declined 1.9 percent despite winning a "multi-million dollar" contract from an African operator.
Market heavyweight Reliance Industries rose 0.6 percent after the energy giant partnered with U.S.-based Iconix Brand Group to sell the latter's 20 fashion and lifestyle brands in India.
SBI edged up 0.2 percent on bargain hunting after plunging over 8 percent the day before on concerns about its exposure to the beleaguered Kingfisher Airlines. Shares of Kingfisher added a percent after the airline started truncated operations in accordance with its new flight schedule.
Rival Jet Airways lost 1.8 percent and SpiceJet closed unchanged after the government allowed domestic carriers to import jet fuel directly, instead of uplifting it from state-run oil retailers. Shares of oil firms such as IOC, HPCL and BPCL climbed 2-5 percent on the buzz that a steep hike in fuel prices is on the cards.
Alfa Laval soared 15.8 percent after the company's delisting offer evoked strong response. Lupin added 3 percent after settling a patent dispute with U.S. firms. Raymond rose 1.5 percent after its auto components arm acquired Pune-based forged component maker Trinity India for an undisclosed sum.
On the global front, most Asian shares lost ground on Thursday as weak data on European business activity and China's manufacturing sector rekindled global growth worries. A weak lead from Wall Street overnight, disappointing earnings from computer makers Dell and HP and concerns surrounding Europe after the downgrading of Greece's credit rating by Fitch also undermined investor appetite for riskier assets.
Japan's Nikkei index rose 0.4 percent to its highest level since early August, as the yen's drop to its lowest against the dollar since July boosted export-related shares.
Copper and oil pared early losses, the euro rose against the dollar and yen, and European shares steadied after a two-day drop, aided by better-than-expected German business confidence data.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.