Indian Stocks Slump to Five-Month Low as Foreigners Extend Sales
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Indian stocks tumbled, with the benchmark index falling to its lowest level this year, after block deals in index futures and foreign funds extended the longest selloff in local shares this year.
Bharat Heavy Electricals Ltd., the top power-equipment maker, was the biggest loser on the S&P BSE Sensex, while NTPC Ltd., the largest utility, fell the most in eight weeks. ICICI Bank Ltd. slid to a three-month low, sending a gauge of lenders its sharpest loss since April 27. The yield on sovereign bonds due 2024 climbed to a four-month high and the rupee weakened.