India Stocks Fall as Deficit, Fraud Complaint Weigh on Sentiment
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India’s benchmark equity index declined as a widening trade deficit and the overhang of a fraud complaint by Punjab National Bank weighed on investor sentiment.
The S&P BSE Sensex fell 0.8 percent to 34,010.76 in Mumbai, erasing a gain of as much as 0.6 percent. ICICI Bank Ltd. contributed the most to the decline, falling 2.3 percent. State Bank of India Ltd. was the worst performer, losing 2.6 percent. Most Asian markets are shut for Lunar New Year holidays.