Indian stocks advanced for a second week amid speculation the country’s new finance minister will announce measures to boost economic growth and as foreign funds increased their holdings of local shares.
The BSE India Sensitive Index, or Sensex, was little changed at 17,557.74 at close, ending the week with a 2.1 per cent gain, matching the previous week. State Bank of India, the nation’s largest lender, tumbled 4.1 per cent to Rs 1,887.75 today, the lowest close since May 17. Tata Motors Ltd., the owner of luxury car brands Jaguar and Land Rover, lost 3.1 per cent to Rs 231.95, a second day of losses after net income missed analysts’ estimates yesterday amid slowing demand for luxury vehicles in Europe.
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