India Stocks Drop as Infosys Tumbles After Paring Sales Guidance
- Sensex trims weekly advance as Tata Consultancy, Wipro retreat
- Gauge’s 14-day RSI rose to 72, signaling rally may be overdone
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Indian stocks declined for the first time this week as the quarterly results of the nation’s second-biggest software exporter disappointed investors.
Infosys Ltd. tumbled the most since April 2013 after paring its annual sales outlook. Tata Consultancy Services Ltd., Asia’s largest technology exporter, decreased the most in five months. Coal India Ltd., the world’s largest miner of the fuel, and power generator NTPC Ltd. both fell for a second day this week. Reliance Industries Ltd., owner of the world’s largest refining complex, rose before its earnings report due after market hours.