Economics
India’s Sensex Sinks to 28-Month Low as Foreigners Trim Holdings
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India’s benchmark stock index sank to a 28-month low as overseas investors pared holdings of the nation’s equities on concern a falling rupee will compound the effects of slowing economic growth on corporate earnings.
Reliance Industries Ltd., India’s largest company, fell to a 33-month low. Larsen & Toubro Ltd., the biggest engineering company, slumped to the lowest level in more than 2 1/2 years. Foreign investors pulled out $363 million from local equities in seven days through yesterday, data from the regulator show.