Indian Stocks Fall on Earnings Concern; Lenders, BHEL Lead Drop
This article is for subscribers only.
Indian stocks declined for the third day, led by state-owned lenders after Bank of Baroda’s earnings missed analysts’ estimates because of an increase in bad loans.
The BSE India Sensitive Index, or Sensex, lost 0.2 percent to 19,751.19 at the close, wiping an intraday advance of 0.6 percent. State Bank of India, the nation’s largest lender, fell the most in three months and was the biggest drag on the gauge. Bank of Baroda, which is not a Sensex member, slumped the most since October 2008. Bharat Heavy Electricals Ltd., the nation’s power-equipment maker, slid to a four-month low.