Markets

Indian shares drop; SBI rises, Bharti falls

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State Bank of India rose more than 2 percent after an official at the country's top lender said the bank has not given further loans to debt-ladden Kingfisher Airlines , which fell more than 11 percent in opening trade.

Mobile operator Bharti Airtel fell 3.6 percent after South Africa-based Econet Wireless filed a suit on Wednesday seeking at least $3.1 billion in damages from Bharti in a dispute over the ownership of its subsidiary Airtel Nigeria.

At 9:20 a.m. (0350 GMT), the main 30-share BSE stock index was down 0.1 percent at 18,137.06, with 16 of its components falling.

Copyright Reuters, 2012