India’s Sensex Index Declines, Led by ICICI Bank, Jaiprakash

India’s benchmark stock index fell from its highest level in a month after Moody’s Investors Service reduced Greece’s credit rating to junk, renewing concern a global economic recovery may stall.

ICICI Bank Ltd., the second-largest lender, dropped for the first day in five. Jaiprakash Associates Ltd., a dam builder, lost 1.6 percent. Moody’s cut Greece’s grade by four steps to junk. Reliance Communications Ltd., a mobile phone operator, rose to a four-month high after saying it’s in “advanced talks” to sell stakes in its tower unit.