Indian stocks drop for 2nd day
Monday, 13 October 2014
Indian stocks dropped for a second day, led by industrials and healthcare companies, amid concern about a global economic slowdown and after data showed factory output growth missed estimates. Mahindra & Mahindra Ltd., the country’s largest tractor maker, and Tata Motors Ltd. (TTMT) headed for two-month lows. Cipla Ltd., a drugmaker, was the second-worst performer on the S&P BSE Sensex. (SENSEX) Reliance Industries Ltd. (RIL), owner of the world’s largest refining complex, dropped ahead of its earnings. The Sensex lost 0.4 per cent to 26,190.5 at 11:59 a.m. in Mumbai, extending last week’s 1 per cent retreat, according to bloomberg.com