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Stocks drop for third day as Infosys falls before results

The S&P BSE Sensex Index fell 0.4 per cent at 29,575.74 at close in Mumbai

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Santanu Chakraborty | Bloomberg Mumbai
Indian stocks declined, as the recent rally pushed equity valuations to near a six-year high.

The S&P BSE Sensex Index fell 0.4 per cent at 29,575.74 at close in Mumbai, while the Nifty 50 Index lost 0.2 per cent. Home-loan providers Housing Development Finance Corp and Indiabulls Housing Finance declined at least 1.2 per cent. Infosys tumbled the most since July before its earnings report on Thursday, the worst performance on the Sensex.

Stocks have set one record after the other this year amid a global rally in equities and a victory for Prime Minister Narendra Modi's party in a key state.