India’s benchmark stock index extended its longest string of losses in three months on concern accelerating inflation will prompt the central bank to tighten credit at its policy meeting this week. State Bank of India Ltd., the nation’s biggest lender, fell 1.4 percent after posting its lowest pace of quarterly profit growth in three years. Hindalco Industries Ltd., the nation’s largest aluminum producer, lost 2 percent after net income dropped 22 percent in its third quarter. Sterlite Industries (India) Ltd., the largest copper and zinc producer, declined 1.6 percent after metal prices fell. “Investors will take out their money and sit on the table to see how it pans out,” said Vaibhav Sanghavi, who manages funds for wealthy individuals at Ambit Capital Ltd. in Mumbai. “The second part of earnings has just been OK, nothing outstanding.” The Bombay Stock Exchange’s Sensitive Index, or Sensex, fell 157.58, or 0.9 percent, to 16,622.88 at 9:17 a.m. in Mumbai. The S&P CNX Nifty Index on the National Stock Exchange lost 0.9 percent to 4,965.2. The BSE 200 Index retreated 0.7 percent to 2,102.5. State Bank slid 1.4 percent to 2,061.9 rupees. Profit growth slowed following losses on surplus funds invested in government bonds. ICICI Bank Ltd., the country’s second-biggest lender, declined 2 percent to 813.7 rupees. Housing Development Finance Corp., the biggest mortgage lender, retreated 1.3 percent to 2,350 rupees.For Further: www.bloomberg.com/apps/news?pid=20601091&sid=aExrncKmXcAI
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