India Sensex Rises, Pares Weekly Decline Amid Inflation Concern
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India’s benchmark stock index rose, paring a weekly loss. Most stocks fell as the government said inflation is a “dominant concern.”
Mahindra & Mahindra Ltd., the largest maker of sport-utility vehicles and tractors, declined 3.4 percent. India needs to narrow the fiscal deficit alongside interest-rate increases to curb inflation that has been “uncomfortably high,” the annual Economic Survey prepared by advisers to Finance Minister Pranab Mukherjee said. Reliance Infrastructure Ltd., the builder of a mass rapid transit system in Mumbai, slumped 4.3 percent.