Economics
India’s Sensex Declines for Third Day as Tata Motors Retreats
- Dollar gains after Fed officials say June rate hike possible
- Adani Ports tumbles 10% as Citigroup downgrades stock
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Indian stocks declined for a third day, tracking regional peers, as investor concern grew on global economic growth.
Adani Ports & Special Economic Zone Ltd. had the steepest drop since October 2008 after Citigroup Inc. lowered the stock to neutral amid an increase in debt levels. Tata Motors Ltd. and Tata Steel Ltd. tumbled more than 5 percent each. ICICI Bank Ltd. slides for the sixth day, set for the longest stretch of declines in three months. Bharat Heavy Electricals Ltd., India’s biggest power-equipment maker, fell the most in two months.