Indian Stocks Post First Weekly Decline in Month as Banks Fall
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Indian stocks declined, with the benchmark index halting a four-week rally, amid concerns the central bank may tighten monetary-policy further after Governor Raghuram Rajan’s comment that inflation is still high.
ICICI Bank Ltd. retreated 2.4 percent, sending a gauge of 13 lenders to a three-week low. Power-equipment maker Bharat Heavy Electricals Ltd. was the worst performer on the index, ending a three-day, 12 percent rally. Tata Steel Ltd. fell the most in a month, pacing losses among metal producers.