Economics
India’s Sensex Drops to Seven-Week Low as Metal Stocks Retreat
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India’s benchmark stock index slid to a seven-week low, led by metal producers and lenders, as some investors sold companies most tied to the economy before the start of the quarterly earnings season this week.
Hindalco Industries Ltd., India’s second-biggest aluminum maker, fell to a four-month low. The S&P BSE Metal Index lost 2.7 percent, the most among the 13 sectoral indexes compiled by the BSE Ltd. Mortgage lender Housing Development Finance Corp. had the biggest two-day loss since Aug. 20. Sun Pharmaceutical Industries Ltd. fell 2.9 percent, ending a four-day advance.