India’s benchmark stock index rose to a record for a sixth day as international investors extended Asia’s largest equity-market inflows.
Indian equities tumbled the most in two weeks after the Reserve Bank of India raised two interest rates yesterday to steady the rupee after its drop to a record. Stocks most tied to economic growth led the declines.
India’s stocks rose, rebounding from the steepest drop in almost three months, as investors judged that domestic growth will offset any global economic slowdown caused by European credit-rating cuts.
India’s benchmark stock index fell, halting three weeks of gains, as investors sold riskier assets amid concern a global slowdown will hurt corporate earnings.
Indian stocks advanced the most since May 15 after last week’s drop in the benchmark index lured investors. Reliance Industries Ltd. led the gains.
Indian equities advanced, with the benchmark index paring a weekly loss, as the currency jumped by the most in more than a year.
Indian stocks dropped, led by power utilities and capital goods companies, as the benchmark index declined from a record.
Indian stocks advanced as the current-account gap widened by less than economists forecast, countering concern that a U.S. government shutdown will reduce capital inflows.
India’s rupee plunged to a record 60.7650 per dollar as investors favored the greenback after latest data bolstered the U.S. economic outlook. Bonds and stocks declined.
Indian stocks fell to a two-week low after the Asian Development Bank and Credit Suisse Group AG cut the nation’s growth forecast to the slowest pace since 2009.
"Relentless buying by foreign investors is lifting market sentiment."
- Gajendra Nagpal on Apr 02, 2014