Wednesday 4 May 2011

India’s Sensex Heading for Longest Losing Streak in Nine Years

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aNBjOFMM21RA

India’s benchmark stock index, the worst-performer this year in Asia, dropped for an eighth day, its longest losing streak in nine years, amid concern inflation will hurt economic growth and corporate earnings.


Bajaj Auto Ltd., the nation’s second-largest motorcycle maker, plunged the most since August 2009.


Bajaj Auto sank 5.9 percent to 1,287 rupees, its biggest drop since Aug. 10, 2009.Mahindra & Mahindra Ltd., the largest maker of sport-utility vehicles and tractors, declined 1 percent to 700.95 rupees. Tata Motors Ltd., the biggest truck maker and owner of Jaguar and Land Rover brands, dropped for a third day, losing 1.3 percent to 1,148.4 rupees.



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