Sensex edges lower on stronger dollar; financials weigh
Indian shares fell on Friday tracking declines in Asian peers as a stronger dollar weighed on crude oil prices, hurting investor risk appetite.
Reuters Market Eye - Shares of State Bank of India(SBI.NS) rise as much as 1.5 percent after Standard Chartered Bank says SBI over-estimated its gross slippage for the July-September quarter, according to an email sent to clients.
Gross slippages at the bank should be at 71 billion rupees, in line with expectations and management guidance, StanChart said in its email.
StanChart added SBI was updating its numbers from Friday's July-September results and would clarify this at an investor conference call later in the day.
On Friday, SBI said gross slippages were at 85 billion rupees, as part of quarterly results that showed its smallest profit increase this year, which sent shares down 3.9 percent.
Net slippages and gross and net non-performing loans remain unchanged, Standard Chartered said.
Senior executives at SBI were not immediately reachable.
SBI shares were up 0.7 percent as of 12:57 p.m.
LONDON British American Tobacco has offered to buy U.S. tobacco company Reynolds American Inc in a $47 billion deal that would bring together Newport, Kent and Pall Mall cigarettes in the world's biggest listed tobacco company.
Gold fell slightly on Friday as the dollar strengthened, but was on track for its first weekly gain in four weeks on steady physical buying from China and exchange-traded funds.