Indian stocks dropped, led by power utilities and capital goods companies, as the benchmark index declined from a record.
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.
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.
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 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 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.
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 advanced, with the benchmark index set for its biggest weekly rally in two months. Financial companies and capital-goods makers led the gains.
Indian stock-index futures gained after the rupee capped its biggest four-day gain in at least 40 years and oil prices declined.
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.
"The deficit number is providing some comfort as it was the biggest overhang on the rupee."
- Gajendra Nagpal on Oct 01, 2013