India’s Sensex Falls to 11-Month Low as Rupee Tumbles to Record
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India’s benchmark index declined to an 11-month low as the rupee weakened to a record. Technology companies and drugmakers led the losses.
State Bank of India dropped 0.4 percent, erasing an early rally of 6.2 percent. Infosys Ltd., the nation’s second-largest software maker, slid 1.6 percent. The S&P BSE Infotech Index has surged 28 percent this year, compared with the 7.8 percent fall in the S&P BSE Sensex. Ranbaxy Laboratories Ltd., India’s biggest drugmaker, slumped 13 percent, the most since February