India’s stock benchmark fell for a third straight day, as investors mulled the outlook for risky assets in an economy set for its weakest expansion in 11 years.
The S&P BSE Sensex Index fell 0.5% to close at 41,055.69 in Mumbai after rising as much as 0.4%. This was the gauge’s longest losing streak since the government budget announcement on Feb. 1 failed to excite investors. The NSE Nifty 50 Index was down 0.6%.
India’s central bank this week starts long-term repo operations to inject $14 billion into the financial system as part of measures aimed at lowering corporate borrowing costs.