Indian Stocks Rebound From Biggest Loss Since 2009; Metals Soar
This article is for subscribers only.
Indian stocks advanced, with the benchmark index rebounding from its steepest four-day decline since July 2009, as some investors judged the losses excessive.
Tata Steel Ltd. jumped 10 percent, sending a measure of metal companies to its biggest gain in more than four years, after Nomura Holdings Inc. raised its outlook on the industry to overweight from underweight, citing a weak rupee. Sesa Goa Ltd. jumped 13 percent on being added to the benchmark index. Oil & Natural Gas Corp. surged from a nine-month low. Ranbaxy Laboratories Ltd., the largest drugmaker, soared 17 percent.