Shares in Kotak Mahindra Bank fell as much as 3.4 percent during trade on Thursday after Dutch financial services group ING sold its 3.1 percent stake in the bank.
The sale of 10.8 million shares in stock market block deals, which helped ING raise $175 million, was done at 750 rupees a share, sources told Reuters. Another source had told Reuters yesterday that it would be in the range of 730-750 rupees each.
Kotak Mahindra, which the market values at roughly $6 billion, ended 2.6 percent lower at 762 rupees with volumes of 0.1 million shares.
The BSE Capital Goods Index ended 1.3 percent lower on Wednesday while most of the other indices ended the day in green.
The big names that led the fall were L&T, which ended 3 percent lower, Havells India, which dropped 1 percent, and Thermax, which slipped 1.8 percent.
The BSE Oil & Gas Index recouped early losses and ended marginally up on Tuesday after the oil minister said a decision on fuel prices would be taken on Friday.
Earlier this month, the government deferred a decision on raising fuel prices, the second time in a year that it has tripped on pushing the politically-sensitive reform measure that could help trim a budget deficit.
UK bank Standard Chartered’s Indian depositary receipts traded near their offer price on Friday in their debut but below their equivalent London close.
The IDRs opened at 105 rupees, rose as much as 2.9 percent to 108 rupees but also slipped to as low as 100.60 rupees in early deals, before closing at 103.05 rupees.
Shares in Bharti Airtel rose over 6 percent in trade after the telecoms major closed its $9 billion acquisition of Zain’s Africa operations.
Bharti Airtel, which is now the world’s fifth-biggest mobile carrier by subscriber base following the deal, ended 5.5 percent higher in a broader market that saw a marginal rise of 0.2 percent.
The BSE Banking Index fell 1.1 percent on Tuesday in a broader market that slipped nearly 1 percent on worries over the euro zone debt crisis.
Financials also reacted to RBI Deputy Governor Subir Gokarn’s comment that the central bank would continue tightening monetary policy at a steady pace.
BSE Metal index dropped 4 percent while the broader index closed down 1.9 percent lower on Monday as investors joined a global sell-off after weak U.S. jobs data and concerns over a potential debt crisis in Hungary hit risk appetite.
Shares of metal manufacturers were trading sharply lower as London copper slumped to near eight-month lows and Shanghai metals hit their downside limit.
Tata Steel’s warning on profit growth saw its shares drop nearly 2 percent in early trade on Thursday, but the counter pared losses lateto close 1.7 percent up.
The company late on Wednesday said that rising raw material costs and the euro zone’s debt crisis could crimp Tata Steel profit growth.