Sensex ends 6-day advance

Stocks declined, led by consumer goods companies, as some investors judged the six-day rally was excessive. The S&P BSE Sensex lost 0.2 per cent at the close in Mumbai, after changing direction at least 20 times. The gauge has risen 13 per cent from a February low, sending its 14-day relative strength index to near the 70 threshold, which some investors see as a signal to sell.

Investors are focused on the March quarter earnings to look for signs of economic growth filtering through to company bottom lines. Profits have dropped in four of the past five quarters in the worst run since the global financial crisis.