Economics
Indian Stocks End Eight-Day Rally on Oil; Climb for Second Week
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India’s benchmark stock index fell, ending an eight-day rally, on concern higher energy prices will fan inflation.
State Bank of India, the nation’s biggest lender, paced declines among its peers. Oil reached a 30-month high in New York on concern the conflict in Libya, Africa’s third-largest exporter, will prolong production cuts and spread to Middle East producers. Maruti Suzuki India Ltd., the top carmaker, rose to a one-month high after sales rose to a record in March. Foreign funds were net buyers of shares for a seventh day.