India’s Sensex Slides as Graft Probes Jolt Investor Confidence
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India’s stocks slumped, dragging down the benchmark index by the most in more than six months amid speculation a series of graft probes will be widened.
Reliance Communications Ltd., the second-biggest mobile phone operator, sank to a record low. State Bank of India, the nation’s largest, dropped for a sixth day to its lowest level in almost four months. The government is expanding investigations into the issuing of mobile-phone licenses. ET Now channel yesterday reported on probes into share-price manipulation. Neither company has been implicated in the investigations.