Mumbai: Indian stocks fell for the first day in three. Tata Motors Ltd, the nation's biggest truckmaker, retreated after investors sold shares.
Jaiprakash Associates Ltd, the nation's biggest builder of dams, declined 3.3 per cent. Hindalco Industries Ltd, the largest aluminium producer, led commodity-related companies lower as prices dropped.
"International developments will have a significant impact on Indian markets," said Paresh Bhagat, managing director at Mangal Keshav Securities Ltd. in Mumbai. "Overvalued stocks may underperform."
The Bombay Stock Exchange's Sensitive Index, or Sensex, lost 50.06, or 0.3 per cent, to 17,052.54. The measure swung between gains and losses almost 30 times and touched its lowest level of the day 15 minutes before the market closed.
The S&P CNX Nifty Index on the National Stock Exchange declined 0.4 per cent to 5,101.50. The BSE 200 Index lost 0.6 per cent to 2,152.82.
Sank
Tata Motors sank 2.7 per cent to Rs776.05, its biggest drop in a month. Daimler AG sold its 5.3 per cent stake at Rs750 per share, according to a person familiar with the transaction.
Jaiprakash fell 3.3 per cent to Rs143.35. The shares have climbed 18 percent in the month through yesterday, their best performance since June. The stock trades at 70.99 times earnings, Bloomberg data show.
Hindalco slid 2.5 per cent to Rs162.10. Sterlite Industries (India) Ltd, India's largest copper producer, lost 1 per cent to Rs804.70.
