Indian Stock Index Drops on Global Recovery, Inflation Concern
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India’s benchmark stock index fell as Finance Minister Pranab Mukherjee said the global economic recovery is fragile and expressed concern about inflation.
Hindustan Unilever Ltd., the biggest household products maker, fell the most in almost three months. India must continue with steps to cool inflation, currently at double the “ideal” level, Mukherjee said ahead of the central bank monetary policy meeting next week. Idea Cellular Ltd., the third-largest mobile-phone company by value, slid the most in two months after profit fell 18 percent. Its larger peer Bharti Airtel Ltd. retreated to a one-week low.