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Indian Stocks Drop for Fourth Day as Banks, Unilever Decline

Indian stocks dropped for a fourth day, the longest losing run in two months, after the nation’s biggest bank said the central bank may raise interest rates and Hindustan Unilever Ltd. slid on analysts downgrades.

State Bank of India fell to its lowest close in 18 months. Chairman Pratip Chaudhuri said the Reserve Bank of India may raise the key interest rate and cash reserve ratio at its meeting tomorrow in a move to defend the rupee. Hindustan Unilever had its biggest loss in six months after the stock was reduced by Macquarie Group Ltd. and JPMorgan Chase & Co. Software exporter Wipro Ltd. surged the most in four years after forecasting record sales.