India Sensex Drops to Lowest in Week as Earnings Miss Estimates
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India’s benchmark stock index fell to the lowest level in a week amid concern company earnings may trail estimates as the central bank increases interest rates to control inflation.
Reliance Industries Ltd., India’s most valuable company, lost 1.8 percent. Drugmaker Biocon Ltd. and Exide Industries Ltd., a battery maker, fell after earnings missed forecasts. Reliance Communications Ltd., the second-largest mobile-phone operator, sank 4.2 percent.