India’s Sensex Falls Most in Five Months, Sterlite Leads Drop
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India’s benchmark stock index dropped the most in more than five months amid speculation central banks may raise borrowing costs to cool inflation, restricting cash available for equities.
Sterlite Industries (India) Ltd., the nation’s biggest copper producer, slid as metal prices slumped. Overseas investors have pushed the main stock gauge to near a record. Tata Motors Ltd., the largest truckmaker, sank the most in more than five months. While the Bank of Korea today raised interest rates, India’s central bank Governor Duvvuri Subbarao said on Nov. 2 that it may refrain from boosting them, in part, to ward off the risk of fund inflows stoking inflation.