India’s Sensex Closes Lower After Rate Increase; DLF Retreats
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India’s benchmark stock index fell, halting a two-day advance, after the central bank raised interest rates for a sixth time this year to combat inflation and tightened home-loan rules to slow a property-market rally.
The Bombay Stock Exchange’s Sensitive Index, or Sensex, fell 9.94, or less than 0.1 percent, to 20,345.69 at the 3:30 p.m. close in Mumbai. The gauge swung between gains and losses at least 30 times after the central bank said the likelihood of further monetary policy tightening in the “immediate future is relatively low.”