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Stock impact report

Sensex, Nifty drop as losses in financials weigh [Reuters]

ICICI Bank Limited (IBN) 
Company Research Source: Reuters
Sensex, Nifty drop as losses in financials weigh | Reuters 3 Min Read (Reuters) - Indian shares dropped on Monday, dented by financials such as ICICI Bank Ltd and State Bank of India as the IL&FS exposure still weighed, but losses were curbed by gains in Zee Entertainment Enterprises Ltd. ICICI Bank Ltd, the top laggard on the broader NSE index, fell nearly four percent ahead of its December-quarter results, while SBI traded 2.47 percent lower. Dewan Housing Finance Ltd fell as much as 7.6 percent after reporting a drop in net profit last week, while housing finance company Indiabulls Housing Finance slipped 5.5 percent. “The issue with Infrastructure Leasing and Financial Service Ltd (IL&FS) is not over, contrary to earlier beliefs and that is why we see housing finance companies in the red today,” said AK Prabhakar, head of research, IDBI Capital - Mumbai. A string of defaults at the major Indian infrastructure financing and building company had triggered sharp falls in the stock an Show less Read more
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