Indian stocks dropped the most in four months on concern rising oil prices will spur inflation and widen the nation’s trade deficit. The rupee weakened to a four- week low and bonds declined.
The largest overseas bet on Indian consumers is spurring speculation that companies from Nestle SA to Colgate-Palmolive Co. will pursue more deals in a nation where household income is forecast to triple this decade.
United Spirits Ltd. surged by a record in Mumbai trading after Diageo Plc said it will buy a controlling stake in India’s largest distiller for $2.04 billion.
The plunge and rebound in Indian stocks that pushed the S&P CNX Nifty Index down 16 percent in eight seconds underscored concern about financial markets.
Indian stock-index futures fell before markets open following a holiday for polls in Mumbai, and amid concerns weak monsoon rains may fuel inflation.
Indian stock-index futures dropped after the benchmark index climbed to a record yesterday.
Indian stock-index futures fell after benchmark indexes jumped to records yesterday.
Indian stock-index futures dropped after the benchmark equity gauges jumped to all-time highs.
"We are advising investors to avoid the stock for now as there's too much volatility."
- Arun Kejriwal on Jul 25, 2014